Storage At Anthem

Storage At Anthem2019-08-29T15:56:02-04:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale Storage at Anthem, an institutional-quality self-storage facility located in Anthem, Arizona; a component of Maricopa County and the Phoenix Metro Area.

Call For Offers – Due October 3
NRSF – 96,409

39922 N Gavilan Peak Parkway
Anthem, AZ 85086

Storage At Anthem – View Facility Walkthrough

Storage at Anthem provides a qualified investor with the opportunity to acquire a newly built, Class A self-storage facility which just successfully completed its first year of lease up with physical and economic occupancies of 37 percent and 31 percent, respectively. This was accomplished while maintaining vigorous rental rate levels. The state-of-the-art facility yields a total of 96,409 rentable square feet among 10 buildings on 7.5 acres. The facility yields 538 climate-controlled units and 189 drive-up units, ranging from 25 square feet to 360 square feet, along with 29 open RV parking spaces and 28 covered RV parking spaces for a total of 784 units.

Strategically situated on North Gavilan Peak Parkway, this thoroughfare witnesses over 16,700 vehicles daily. The site is located within the master-planned community versus competitors, giving the advantage of directly serving the under-supplied storage market. West of the development is Interstate 17 / Black Canyon Freeway, one of Metro Phoenix’s two major connectors, which demonstrates traffic counts of over 95,000 vehicles daily. The facility is just north of the heart of Downtown Phoenix with a self-storage supply that is approximately 34 percent below the market average. Numerous national retailers supply the surrounding community, such as Walmart Supercenter, Fry’s Food and Drug, Safeway, Circle K, Starbucks, CVS and Walgreens, among countless others expanding into the area. A multitude of large-scale residential and multifamily communities are also within proximity to the subject property to accommodate the population increase. The Class A subject property benefits from a three-mile population growth rate of 1.4 percent annually from 2019 to 2023, which is approximately seven percent over a five-year period.

The facility is one of the only two climate-controlled facilities within Anthem, where the rapidly-growing population has a three-mile median household income exceeding $101,000 and booming employment growth. Furthermore, the surrounding master-planned community has restrictions on parking boats on residential driveways, which made for a quick lease-up time for the facility’s boat/RV storage given its proximity to housing and Lake Pleasant, reputed for its scenic water recreation. The facility is not currently operated by a professional third-party manager, which provides a new owner an excellent opportunity to accelerate the lease up process and capitalize on additional ancillary income and tenant insurance revenue.

Investment Highlights:

  • Lease-Up Exceeding Proforma Projections While Maintaining Strong Rental Rate Metrics
  • State-of-the-Art, Class A Facility Located in the Affluent Community of Anthem
  • Median Three-Mile Household Income Surpassing $101,000
  • Advantageously Situated in a High Barrier to Entry Market
  • Opportunity to Implement Professional Management and Capitalize on the Strong Demand for Storage
  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as Storage At Anthem.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.