The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market the I-17 Self-Storage opportunity in Phoenix, AZ.
The I-17 Self-Storage represents a best-in-class facility that spans 88,052 net rentable square feet with plenty of expansion opportunities. The property is strategically located less than a quarter mile west of I-17 and is highly visible from both the north and south-bound lanes of the interstate. Built in 2019, the facility consists of a combined total unit count of 1,021 which includes climate, non-climate, and parking. In addition to the existing units, there is an exceptional value add opportunity which involves the potential relocation of the 15×60 RV spaces to add more drive-up, non-climate units to the property. The property utilizes 24-hour video surveillance and electronic gating to guarantee secure storage.
This facility offers premium access to multiple major thoroughfares which include but aren’t limited to I-17 which sees 142,394 VPD and Black Canyon Highway. With a population of 193,062 in the 3-mile, the I-17 opportunity presents excellent demographics and strong lease-up seeing the property sitting at 90% physical and 51% economic currently. With the increase of economic occupancy to match the physical occupancy, there is a substantial upside that can be realized from day one. In addition, there are several under construction and proposed multifamily developments within the three-mile which only increases the overall potential of the facility.