WDP Glendale Storage Buys West Glendale Self Storage in AZ for $4.9M

WDP Glendale Storage purchased West Glendale Self Storage in Glendale, Ariz., from Ivicevic Self Storage LLC for $4.9 million. It will be managed by US Storage Centers, which owns, operates or manages more than 75 self-storage facilities in 10 states.

WDP Glendale Storage purchased West Glendale Self Storage in Glendale, Ariz., from Ivicevic Self Storage LLC for $4.9 million. It will be managed by US Storage Centers, which owns, operates or manages more than 75 self-storage facilities in 10 states.

The facility encompasses 79,544 square feet of storage space. It includes 788 units, 272 RV-parking spaces and eight contractor lots. It was 58 percent occupied at the time of sale, according to a press release from Empire Commercial Real Estate, which brokered the off-market transaction. The property sold at a capitalization rate of 5.02 percent, and the transaction closed in mid-October.

Norman Herd, a partner with Empire Commercial, represented the buyer and seller in the deal. The Phoenix-based company offers brokerage services for a variety of commercial investment properties including self-storage, retail, medical office and multi-family, and lender-owned real estate and special assets.

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