The William Warren Group Acquires Phoenix Storage Asset
- Apr 27, 2020
Hibernia Capital Advisors has sold an 83,710-rentable-square-foot self storage property in downtown Phoenix. The William Warren Group, operating under the StorQuest Self Storage brand, purchased the facility for $11.9 million, according to public records. Skymar Capital Corp. provided the new owner with $6.5 million in acquisition financing. The note is set to mature in 2025.
Located on 3 acres at 1616 E. Portland St., the multi-story property came online in 2017 and was originally named Garfield Storage. Among its 740 units, the facility features a mix of climate-controlled and drive-up access units. Additionally, the property features electronic gate access, security cameras and an on-site manager. Situated in the city’s historic Garfield neighborhood, the facility is close to Interstate 10 and roughly 3 miles from Phoenix Sky Harbor International Airport.
Cushman & Wakefield Executive Director Paul Boyle and Senior Managing Director Greg Wells assisted The William Warner Group in the acquisition. Last October, the same team represented the company in the $9.1 million acquisition of Dominion Self Storage, an 82,120-square-foot self storage facility in Buckeye, Ariz.