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July 31, 2013
Closed Sales

Self Storage – Bisbee, Arizona

Our team tracks all self storage sales in Arizona and got in contact with our client when this storage sold. After getting in touch with them, it was disclosed that they had originally sold the facility a decade earlier, and defaulted on the buyer that they carried paper for. Our client had originally built the property but with the time lapse, living out of state, and deferred maintenance they did not wish to own it again.

As experts in this particular type of asset class, we began by making an optimal sales package and showing the value add opportunity an investor could realize. Our team circulated the offering memorandum through our entire self storage investors database, and added a personal touch to our contact with each owner within a two hour drive of the self storage. We received several serious offers from many local buyers.

The buyer of our client’s self storage was one of the owners located within a two hour drive whom we had put extra care into contacting. Our client was extremely happy that they were able to move their asset without having to hold paper again. The buyer was also very happy and immediately set out performing a program of physical improvements and has since updated the property significantly.