AA Bargain Mini Storage II, a self-storage operator in Tempe, Ariz., has purchased Sun Devil Mini Storage in Tempe for $600,000. AA Bargain is owned by Business Property Trust, a Portland, Ore.-based investment company specializing in small-business industrial properties and self-storage facilities. The seller was a private investor based in Grand Forks, N.D.
The acquired self-storage property was built in 1983 and sits on approximately 1 acre. The 18,975-square-foot facility offers 150 units. The purchase price was equal to $31.62 per square foot.
The all-cash transaction was handled by Norman Herd, a self-storage specialist with Empire Commercial Real Estate. The Phoenix-based brokerage focuses on single-use properties.