Capitol Self Storage in Tucson, Ariz., recently sold from Capitol Storage Properties to U-Haul affiliate AMERCO Real Estate Co. for $1.7 million. The 36,000-square-foot facility at 6755 East Golf Links Road was built in 1987. It comprises 444 units on 2.3 acres. Features include high street visibility, all-steel construction and an onsite residence. U-Haul is adding this site to its already extensive list of Arizona properties.
This deal was a desirable acquisition for U-Haul due its close proximity to Davis-Monthan Air Force Base and the high demand for self-storage and truck rentals services. U-Haul will be upgrading the existing self-storage facility and operating the property without onsite personnel from a remote location, said Stephen Grossman, a broker in the Orange County, Calif., office of NAI Capital, which represented both buyer and seller.
AMERCO is the parent company of U-Haul International Inc., Oxford Life Insurance Co., Repwest Insurance Company and Amerco Real Estate Co. Established in 1945, U-Haul has 36 million square feet of storage space at more than 1,000 owned and managed facilities throughout North America.
Based in Encino, Calif., NAI Capital is a commercial real estate firm with 14 offices throughout California. The company is the Southern California affiliate of NAI Global, a real estate service network with 350 offices worldwide.