Just Sold – Foothills Self Storage

Bill Alter is pleased to announce the sale of Foothills Self Storage located at 4555 N. 1st Avenue in Tucson, Arizona.  The sale closed on March 10, 2016 for $7,500,000, which represents approximately $120 per square foot and a cap rate of about 5.7%.  The property was constructed in 1996 and consisted of about 62,770 square feet and 636 storage units plus a billboard on a long term lease.  Occupancy at time of closing was about 95%. The seller in the transaction was a group of investors/developers from Tucson.  The property was purchased by The William Warren Group and will be re-branded as Stor-Qwest Self Storage. This was Bill Alter’s 146th self-storage sale. For more information contact Bill Alter at 602-315-0771 or Bill@RGcre.com.

Specializing in commercial real estate for over 20 years, Rein & Grossoehme is consistently recognized as a market leader in Arizona and provides services in retail leasing and sales, office leasing and sales, industrial leasing and sales, land and pads, self storage properties, multi-family properties, single tenant triple net leased properties, and tenant representation.

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