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Self-Storage Facility

The Storage Center

5256 W Bell Rd, Glendale, AZ 85308

Listing Price: Request For Offer

Number of Units
907
Occupancy
42.0%
Rentable SF
87,250
Year Built
2023

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale The Storage Center, in Glendale, Arizona, located in the Phoenix MSA.

The Storage Center spanning 87,250 net-rentable square feet, maintains 907 climate-controlled units ranging from 25 square feet to 300 square feet. The two-story property was constructed in 2023 and sustains economic and physical occupancies of 31 percent and 42 percent, allowing an investor to benefit from the continuation of lease-up activity combined with rental rate growth across multiple unit types and sizes. The property is situated on 2.589 acres and features state of the art surveillance system and personalized keypad entry to access the facility. Additionally, the property offers asphalt drives and loading area canopies. Existing climate-controlled inventory within the three-mile radius is only 4.06 net-rentable square feet per capita. Non-climate control supply is thin as well, with no increases
forecasted from the current 5.43 net-rentable square feet amount as reported by Yardi Matrix.

Glendale, Arizona is part of the Phoenix MSA and the sixth-largest city by population in the state of Arizona. The subject property is located on Bell Road inside Loop 101, which has experienced unprecedented growth in the past thirty-six months. The annual average daily traffic count on Bell Road is 17,200 vehicles and there is currently over one billion dollars’ worth of world class retail under construction in Glendale. The State Farm Stadium, which hosted the 2023 Super Bowl, is located in
the Westgate Entertainment District, a premiere entertainment destination. (Glendale Economic Development). In addition, Glendale is home to historic attractions like Sahuaro Ranch Park and Thunderbird Conservation Park. The subject property is 2.4 miles from Midwestern University, the sole veterinary school in Arizona, with approximately 3,700 students enrolled in the Glendale campus. The
population in a three-mile radius of the subject property is 118,892 and includes approximately 45,700 occupied housing units. Glendale offers a diverse workforce comprised of healthcare, high-tech manufacturing, education, and aerospace and defense. Major employers include TriWest Healthcare Alliance, Knight Transportation Services, Honeywell, Luke Air Force Base and Arrowhead Hospital.

Investment Highlights

  • +/- 17,200 DAILY TRAFFIC COUNTS | Located in the heart of the West Bell Road retail corridor 3.5 Miles from Downtown
  • 907 UNITS | 87,250 NRSF
  • LIMITED NEW COMPETITION | Only one self-storage project under development within three miles of the facility
  • HEAVILY POPULATED AREA | Three-Mile Population +/- 118,892 | Total Households +/- 45,700
  • CLIMATE CONTROL DEMAND DRIVERS | Only four net rentable square feet per capita and nearly 9,200 existing multi-family units in submarket
  • MANAGEMENT & LEASE UP VALUE ADD | Only facility in Phoenix MSA and on average less than $800 per month spent on marketing & advertising during lease up

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Self-Storage Facility

The Storage Center

Listing Price: Request For Offer

Number of Units
907
Occupancy
42.0%
Rentable SF
87,250
Year Built
2023

Investment Highlights

  • +/- 17,200 DAILY TRAFFIC COUNTS | Located in the heart of the West Bell Road retail corridor 3.5 Miles from Downtown
  • 907 UNITS | 87,250 NRSF
  • LIMITED NEW COMPETITION | Only one self-storage project under development within three miles of the facility
  • HEAVILY POPULATED AREA | Three-Mile Population +/- 118,892 | Total Households +/- 45,700
  • CLIMATE CONTROL DEMAND DRIVERS | Only four net rentable square feet per capita and nearly 9,200 existing multi-family units in submarket
  • MANAGEMENT & LEASE UP VALUE ADD | Only facility in Phoenix MSA and on average less than $800 per month spent on marketing & advertising during lease up

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale The Storage Center, in Glendale, Arizona, located in the Phoenix MSA. The Storage Center spanning 87,250 net-rentable square feet, maintains 907 climate-controlled units ranging from 25 square feet to 300 square feet. The two-story property was constructed in 2023 and sustains economic and physical occupancies of 31 percent and 42 percent, allowing an investor to benefit from the continuation of lease-up activity combined with rental rate growth across multiple unit types and sizes. The property is situated on 2.589 acres and features state of the art surveillance system and personalized keypad entry to access the facility. Additionally, the property offers asphalt drives and loading area canopies. Existing climate-controlled inventory within the three-mile radius is only 4.06 net-rentable square feet per capita. Non-climate control supply is thin as well, with no increases forecasted from the current 5.43 net-rentable square feet amount as reported by Yardi Matrix. Glendale, Arizona is part of the Phoenix MSA and the sixth-largest city by population in the state of Arizona. The subject property is located on Bell Road inside Loop 101, which has experienced unprecedented growth in the past thirty-six months. The annual average daily traffic count on Bell Road is 17,200 vehicles and there is currently over one billion dollars’ worth of world class retail under construction in Glendale. The State Farm Stadium, which hosted the 2023 Super Bowl, is located in the Westgate Entertainment District, a premiere entertainment destination. (Glendale Economic Development). In addition, Glendale is home to historic attractions like Sahuaro Ranch Park and Thunderbird Conservation Park. The subject property is 2.4 miles from Midwestern University, the sole veterinary school in Arizona, with approximately 3,700 students enrolled in the Glendale campus. The population in a three-mile radius of the subject property is 118,892 and includes approximately 45,700 occupied housing units. Glendale offers a diverse workforce comprised of healthcare, high-tech manufacturing, education, and aerospace and defense. Major employers include TriWest Healthcare Alliance, Knight Transportation Services, Honeywell, Luke Air Force Base and Arrowhead Hospital.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

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