Phoenix Self-Storage Heats Up. Here's Why.
As the major food groups grow in Phoenix, so do smaller (but definitely profitable) kinds of real estate. "The Phoenix area self-storage market has strongly rebounded along with residential and commercial activity," SSGT SVP of acquisitions Wayne Johnson tells us. Recently SoCal-based SSGT entered into its first contract to acquire a certificate of occupancy facility, which consists of a ground-up self-storage development in the South Mountain Village area of Phoenix.
"We see this as an opportunity to expand our presence, with additional acquisitions and development in selected submarkets," Wayne adds. The developer, Phoenix-based Glacier Development, plans to build a two-story facility with about 800 units that will break ground in Q3 2015. The 81k SF facility (pictured) will be at 1500 East Baseline Rd and offer 80% climate controlled units, drive-up units and covered RV spaces.