Mesa, AZ Development Site
Mesa, AZ
Executive Summary
The Mesa, AZ Development Site consists of a potential development of 743 units distributed across 72,575 net rentable square feet of interior nonclimate-controlled and climate-controlled storage space. The storage building is 3 levels – 1 below grade and 2 above grade. Additional entitlements allow for the construction of 2 retail buildings of approximately 6,800 rentable square feet. Each retail building has its own drive-through lane.
The location is very visible and is on a busy retail corridor with local, retail service, gas station, and dining nearby. The City of Mesa is robust and diverse. The city is home to several major employers including the Boeing Company, Santander Consumer USA and Drivetime Auto Group. Mesa has a relatively low cost of living, making it an attractive place for both businesses and residents. The subject property is in a mature, infill location with substantial residential development in the submarket that encompasses this property. There are two airports local to the subject property. Falcon Field Municipal Airport serves as a hub for general aviation, and is utilized by The Boeing Company who has facilities adjacent to the airport. Mesa Gateway Airport set a record for the 2022-2023 period, welcoming more than 1.9 million passengers on flights. Mesa Gateway Airport is undergoing an expansion which includes a 30,000 square foot terminal addition and new restaurants to accompany the increasing demand. There are numerous universities and colleges in the area including the Arizona State University - Tempe Campus located 10.8 miles west of the subject property which boasts a student population of 56,643 students. The Valley Metro Rail system has expanded with the Northwest Extension Phase II, which has added 1.6 miles to the system, connecting Mesa, Tempe, and downtown Phoenix to new areas of northwest Phoenix.
Listing Agent
Walter Brauer
AZ Lic# SA684164000
Investment Highlights
Team
Brokerage Team
CBRE Self Storage Advisory Group provides personalized and tailored services, backed by the nation’s foremost experience and technology, driving successful real estate outcomes for individual and institution investors alike. As the industry leader in self-storage advisory, we bring unmatched buyer exposure and market knowledge to each transaction, delivering maximum value to clients.
With more than $6.5 billion in consideration and over 45 million square feet sold since 2009, this self storage team led by Nick Walker offers customized investment sales, acquisition and recapitalization services, together with industry-leading market intelligence, to provide unmatched exposure to buyers across the country. By leveraging the strength of CBRE’s Self Storage Advisory Group, in conjunction with market research, a seamless execution process and long-standing relationships, the team can anticipate trends and command capital globally, validating CBRE’s Self Storage Advisory Group as the safest and best choice for results in the global investment property capital market.
