Commercial real estate firm Wentworth Storage Co. LLC (WSC) has purchased land in Phoenix for $770,000 on which it plans to build a self-storage facility. The 1.6-acre property is near the northwest corner of 19th and W. Glendale Avenues. Construction on the 100,000-square-foot, climate-controlled facility will begin this year, with an expected completion in early 2018,. The project will be built under Glendale Avenue Self Storage LLC, according to the source.
The site, purchased from NRDP AZ III LLC, is one mile from Interstate 17 and across the street from an existing WSC-owned property, the source reported. Company officials indicated there will be a synergy between the two sites. “This property offered us an opportunity to acquire a great infill site,” said Dave King, WSC’s vice president of self-storage.
WSC is seeking additional acquisition and development opportunities, according to the source. The company closed on more than $160 million in self-storage projects in the last year. It’s already evaluating or under contract on another 1 million square feet of self-storage nationwide.
Based in Phoenix, WSC was founded more than 40 years ago. The company has been involved in more than 7 million square feet of development and acquisition transactions, and has a current portfolio of 1.3 million net rentable square feet.
Sources:
- Commercial Executive: Wentworth Storage Company Acquires 1.63-Acres in Phoenix
