In the past two years, new self storage units have gone up at 5010 N. First Ave., 121 W. Orange Grove Road, 9013 E. Vail Road and 3434 E Kleindale Road.
Recently, the Tucson Self Storage at 6459 E. Golf Links Road sold to Western Tucson LLC for $2.7 million. The seller was T/F Limited Partnership LLLP.
“The Tucson market has several new self-storage projects in the works,” said Denise Nunez, senior vice president for National Self Storage Investment Group at NAI Horizon. “In large, the increase is due to the availability of funding for these deals; however, the economic improvement in the Tucson market has also brought attention to a market that is most likely under-supplied.”
She said the city is also “a little more flexible and accepting of these projects than in years past.”
Built in 1976, Tucson Self Storage sits on 2.53 acres and has 584 units ranging in size from 5x5 to 10x30.
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“This is the deal that so many are looking for in a market environment where self-storage acquisition opportunities in Arizona are very thin,” said Nunez, who represented the buyer. “The property is well built and well located on a heavily-traveled street.”
