For more information, please call (813) 462-4220.
Storage at Anthem provides a qualified investor with the opportunity to acquire a newly built, Class A self-storage facility which just successfully completed its first year of lease up with physical and economic occupancies of 37 percent and 31 percent, respectively. This was accomplished while maintaining vigorous rental rate levels. The state-of-the-art facility yields a total of 96,409 rentable square feet among 10 buildings on 7.5 acres. The facility yields 538 climate-controlled units and 189 drive-up units, ranging from 25 square feet to 360 square feet, along with 29 open RV parking spaces and 28 covered RV parking spaces for a total of 784 units.
Strategically situated on North Gavilan Peak Parkway, this thoroughfare witnesses over 16,700 vehicles daily. The site is located within the master-planned community versus competitors, giving the advantage of directly serving the under-supplied storage market. West of the development is Interstate 17 / Black Canyon Freeway, one of Metro Phoenix’s two major connectors, which demonstrates traffic counts of over 95,000 vehicles daily. The facility is just north of the heart of Downtown Phoenix with a self-storage supply that is approximately 34 percent below the market average. Numerous national retailers supply the surrounding community, such as Walmart Supercenter, Fry’s Food and Drug, Safeway, Circle K, Starbucks, CVS and Walgreens, among countless others expanding into the area. A multitude of large-scale residential and multifamily communities are also within proximity to the subject property to accommodate the population increase. The Class A subject property benefits from a three-mile population growth rate of 1.4 percent annually from 2019 to 2023, which is approximately seven percent over a five-year period.
The facility is one of the only two climate-controlled facilities within Anthem, where the rapidly-growing population has a three-mile median household income exceeding $101,000 and booming employment growth. Furthermore, the surrounding master-planned community has restrictions on parking boats on residential driveways, which made for a quick lease-up time for the facility’s boat/RV storage given its proximity to housing and Lake Pleasant, reputed for its scenic water recreation. The facility is not currently operated by a professional third-party manager, which provides a new owner an excellent opportunity to accelerate the lease up process and capitalize on additional ancillary income and tenant insurance revenue.