Sure Storage – Surprise, Arizona

Description

General Description

The investment opportunity is an income producing self storage which is leased to a mix of office users, households, and commercial storage tenants. The improvements consist of nine self storage buildings totaling 68,500 square feet and one office/residence totaling 1,212 square feet. There are 488 units of drive up storage, 23 parking spaces for storage of vehicles. Construction is steel and block on concrete foundations. Partitions are steel. The roofs are steel with decorative clay tiles on the perimeter buildings. Drive aisles are paved asphalt. Access is via a keypad controlled gate. The total rentable square footage is 74,420.

Market Overview

Surprise is located in Maricopa County just west of downtown Phoenix. The city has seen rapid growth over the last century with the population growing drastically from 30,000 people in 2000 to over 120,000 full time residents today. The city was named Surprise, as the first settlers would be surprised if the town would ever amount to anything. Present day Surprise has become one of Arizona’s fastest growing cities and is the 10th largest city in the state. It is well known for its vast mountain preserves, regional lake, and pristine open Sonoran desert. It is also home to Major League Baseball spring training camps for the Kansas City Royals and the Texas Rangers.