Booster Drive Storage LLC, an entity controlled by a Utah-based real estate investment company, recently purchased AAA Boat/RV & Mini Storage in Bullhead City, Ariz., for $790,000. The property at 1563 Booster Drive is comprised of 49,460 square feet and 334 units. The facility was built in 1984 and underwent an expansion in 2000.
The seller, American Equity Life Insurance Co., foreclosed on the property last year. The facility was 50 percent occupied at the time of closing.
Bill Alter and Denise Nunez of Rein & Grossoehme Commercial Real Estate negotiated the deal. The firm specializes in the sale of investment properties and commercial leasing. The transaction was the 119th self-storage closing handled by Alter and Nunez.