Tempe Storage Company in Tempe, Ariz., was recently sold for $4.3 million in an all-cash transaction. Built in 2007, the 35,326-square-foot, 402-unit property was 65 percent occupied at the time of closing. It was sold by three local investors to a fellow Arizonan.
The sale was negotiated by Bill Alter and Denise Nunez of Rein & Grossoehme Commercial Real Estate. The transaction represents Alter’s 103rd successful self-storage closing in his 24 years as a specialist in this property type.
Rein & Grossoehme specializes in the sale of investment properties and commercial leasing.