Business Property Trust, a Portland, Ore.-based investment company specializing in small-business industrial properties and self-storage facilities, recently purchased Camelback & Grand Self Storage in Glendale, Ariz., for $212,000. The seller was Kristin Rousseve.
The facility at 4616 N.W. Grand Ave. is comprised of 48,066 square feet and 357 storage units. It was built in 1986 and was 50 percent occupied at the time of closing.
This is the second purchase in the Phoenix market made recently by Business Property Trust. The company acquired Allstate Self Storage in June for an undisclosed amount. The 76,345-square-foot property has been rebranded Black Canyon Bargain Storage.
Bill Alter and Denise Nunez of Rein & Grossoehme Commercial Real Estate negotiated both sales. Rein & Grossoehme specializes in the sale of investment properties and commercial leasing.