Tony Ardizzone of Monolith Group recently sold Storage Zone located at 9363 E Southern Avenue, Mesa, AZ, a storage facility to Extra Space Storage REIT for $8,643,000.00. The project was 90% occupied at time of sale (12/28/2012). It was 103,000 SF on 5 acres.
The Monolith Group is looking to acquire infill land opportunities in the 1.5-5 acre size range for self storage development. They will also consider existing self storage facilities as well as long as they are infill locations with good value-add opportunity.
"This was a good opportunity for us to sell and redeploy the capital into other projects we are working on," said Mr. Ardizzone. Call Tony to discuss this or other opportunities (480.367.1901).