FOR IMMEDIATE RELEASE – April 1, 2019
VESTIS GROUP COMPLETES SALE OF SELF-STORAGE SITE IN NORTH SCOTTSDALE
Vestis Group completed the sale of 1.3 Acres of C-3 Zoned, self-storage approved land, located at 22111 North Scottsdale Road in North Scottsdale, for $3,500,000 or $61 per square foot.
(Phoenix – April 1, 2019) – Vestis Group, a commercial brokerage, investment and development firm, is pleased to announce the sale of 1.3 Acres of C-3 Zoned, self-storage approved land, located at 22111 North Scottsdale Road in North Scottsdale, for $3,500,000 or $61 per square foot. The Phoenix based Vestis Group commercial brokerage team of Natan Jacobs and Matt Morrell negotiated the transaction on behalf of the buyer, 7200 Monogram Self Storage Partners LLC, from Scottsdale, Arizona, and the seller, North Scottsdale Self Storage LLC, from Scottsdale, Arizona.
“This transaction required land development application and persistent brokerage work to complete,” says Matt Morrell, President of Retail Investments at Vestis Group and the lead broker for this transaction, “We are excited and congratulate everyone involved on another successfully closed deal. The state-of-art self storage development will include approximately 97,000 square feet of climate controlled storage space, across multi-levels, including 2 basement levels. We are actively seeking additional land development opportunities across Metro Phoenix.”
The subject property, located at the northeast corner Scottsdale Road and Monogram Road, features direct access to the Loop 101 Freeway, within 1.5 miles, and is situated across Miller Road from the mixed-use development, “Silverstone,” formerly Rawhide. Silverstone will ultimately consist of 976 homes, an independent and assisted living facility, Vi at Silverstone, as well as office and retail space. Nearby resort/hotels include: The Boulders, Fairmont Scottsdale Princess, JW Marriott Phoenix Desert Ridge Resort & Spa, The Westin Kierland Resort & Spa Phoenix-Scottsdale, and Four Seasons Resort Scottsdale At Troon North.
Vestis Group is the broker of choice for individuals and institutions investing in multifamily residential and commercial real estate throughout Metropolitan Phoenix. Our advisors assist clients in the acquisition and disposition of multifamily investment and retail investment assets, including, apartments, bulk condo packages, duplex/triplex/fourplex properties, single-family rental portfolios (SFR Portfolios), income producing single-family investment properties, neighborhood strip centers, retail power centers, retail strip centers, neighborhood grocery, retail PAD and retail shopping centers. In the field of housing, Vestis Group’s principals have developed, built, rehabilitated, constructed, improved, managed, and sold thousands of apartments units, condos, single-family homes and home sites.
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About Vestis Group
Vestis Group is a leading Multifamily Investment sales and Advisory Services firm with a proven track-record of providing value added brokerage services coupled with innovative and ongoing real estate investment strategies.
We specialize in Phoenix Apartments For Sale.
Our mission is to ensure that owners and investors receive the most efficient research, marketing, real estate consultation and transaction services available. We pride ourselves on our ability to deliver added value to our clients by building uncompromising and long-lasting relationships with our partners.
Vestis Group serves multifamily owners and investors with a full suite of commercial real estate services, including Buyer Representation, Tenant Representation, Project Marketing & Sales, Asset Management, Project & Development Services, Research and Consulting.
For more information, please visit: www.Vestis-Group.com.