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CAVE CREEK AND MESA, ARIZ. — Buchanan Street Partners has acquired two Class A self-storage facilities in the Phoenix metro.
The properties, located at 29640 N. Tatum Blvd. in Cave Creek and 2862 S. Signal Butte Road in Mesa, offer a combined 160,500 rentable square feet and 1,620 units. With a total purchase price of $41 million, or $255 per square foot, the acquisitions mark Buchanan’s entrance into the greater Phoenix self-storage market.
Both recently constructed facilities offer climate-controlled units, video surveillance and security access controls.
Westport Properties, Inc., operating under the US Storage Centers brand, will manage the properties as a third-party manager. CBRE’s Nick Walker and Walter Brauer arranged the sale.