Commercial real estate firm Wentworth Property Co. LLC is expanding its self-storage presence in Arizona with the acquisition of two properties, both of which will be rebranded as US Storage Centers. In separate off-market transactions, the company purchased Cave Creek Lock-It Lockers in Phoenix for $4.2 million and a former Levitz Furniture store in Tempe, Ariz., for $3.15 million.
The single-story Cave Creek property at 1201 E. Cinnabar Ave. comprises 47,627 net rentable square feet of storage space in 527 units. The company intends to add more climate-controlled units and RV-parking spaces, according to a press release.
Wentworth plans to convert the vacant furniture store into a climate-controlled self-storage facility. The project will include the construction of a mezzanine level, which will double the size of the existing 45,000-square-foot structure.
Based in Phoenix, Wentworth Property was represented in the transactions by Empire Commercial Real Estate, which specializes in hospitality, mobile-home parks and self-storage real estate in Arizona.
US Storage Centers is the self-storage brand for Westport Properties Inc., a real estate investment company that acquires, develops and operates self-storage facilities as well as provides third-party management services. It’s affiliated with Westport Memphis Self Storage LLC. The company operates 86 self-storage facilities.
