ADV Surprise Property Owner LLC of McKinney, Texas, has purchased RV Harbor, a boat/RV-storage operation in Surprise, Ariz., for $7.5 million from RV Harbor LLC. Built in 2003, the facility at 13516 W. Foxfire Drive comprises 201,476 square feet of storage space in 421 canopy or fully enclosed spaces.
The buyer and the seller were represented in the transaction by Paul Boyle and Rick Danis, executive directors for real estate firm Cushman & Wakefield.
“The RV- and boat-storage industry continues to increase in popularity with both investors and developers,” Boyle said. “[ADV] has historically been focused on existing self-storage facilities. RV Harbor represents their first acquisition in the RV- and boat-storage business.”
Founded in 1917, Cushman & Wakefield offers a complete range of services for all property types including consulting and appraisal, corporate services, debt and equity financing, investment banking, leasing, and sales and acquisitions. The company employs 48,000 people in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.