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March 31, 2015
Closed Sales

Riverview Self Storage – Bullhead City, Arizona

Self storage is a unique asset type that requires expert knowledge to properly represent in a sale. This particular property was located in a smaller community and was self-managed by the sellers who wanted to retire and do more traveling. Since the sellers desired a clean break from the property, we needed to have solutions available to the prospective buyer for the management and financing of the property. By anticipating and solving for these challenges, we knew we could expand the prospective buyer pool to outside of the local market and get a higher sale price for our client.

Our strategy for the sale of this property had several points of attack. First, we created comprehensive sales materials including an offering memorandum with photos, financial data, and projections. Second, we solved for future management by researching, vetting, and referring a local property management company to take over the day-to-day management. Third, we contacted every local bank in the community to find a commercial lender who could help our buyer with financing. Fourth, we circulated our sales materials through a multi-channel marketing system which touches every self storage owner in the southwest and makes the property readily visible to new investors in the self storage asset class.

A successful sale happened for our clients as a result of a well-thought strategy and our commitment to cooperation with the brokerage community. Our extensive marketing penetration included the local real estate community and a buyer moving into the area from California was brought to us by a local agent whom we gladly cooperated with. Because our listing system is time-tested and organized, we had all the information the buyer needed to get purchase financing. Our clients were very happy and the buyers were, too.

We were so happy to work with Jeff Gorden. He was professional, conscientious, and always had our best interest in negotiations. (There was) constant communication and his well rounded knowledge of the niche storage facility market was a great benefit to us. It  was obvious that the buyer’s agent followed Jeff’s leadership in the closing process. It  was  great to be on  the  “A”  side of this   transaction. Jeff’s expertise in the commercial real estate market is unprecedented. My husband and I would recommend Jeff with highest regard.

-Leslie & Doug Blayde