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Barker Pacific Bags Phoenix Self-Storage Facility
Los Angeles-based Barker Pacific Group acquired a 935-unit self-storage property in Phoenix from Hawkins Company Commercial Developers for $14.25 million. Located at 3325 N. 16th St., the 94,450-square-foot, Class A property includes 906 climate-controlled units and 29 non-climate-controlled units.
Hawkins’ Mark Hawkins says, “The [Cushman & Wakefield Self-Storage Advisory Group] brought a number of buyers to the table and worked diligently through the process, and therefore was able to close the sale quickly.”
Cushman & Wakefield’s Devin Beasley, Mike Mele and Luke Elliott represented the seller.
Beasley added, “The Phoenix MSA has proven once again that it is a highly sought-after market in regard to self-storage lease-ups across the board. Most new builds have remained relatively constant, which has allowed buyers the ability to acknowledge the continuous growth locally, while nationally, we are still seeing the ebbs and flow in both rental rates and lease-up activity.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition