Vertical Fields Capital Llc Acquires Vehicle Storage Property In Phoenix Area

Maps swift plans to renovate Gilbert, Arizona, property, execute expansive operating turnaround

WASHINGTON, D.C. – Vertical Fields Capital LLC and Macritchie Storage LLC announced today their acquisition, through an affiliate, of a vehicle storage property in the Phoenix metropolitan area. The Gilbert, Arizona, property — located at 105 East Baseline Road — is managed by Cox Armoured Mini Storage.

With acquisition of the facility complete, Vertical Fields is swiftly moving forward with renovation plans and an expansive operating turnaround.

“We are excited about the purchase of this facility and we’re wasting little time with its renovation and in implementing a detailed and aggressive plan to improve overall operational excellence there,” said Vertical Fields Founder and Managing Member Frederick McCarthy. “One metric we are especially determined to improve is the property’s occupancy, which now sits below 70%. Our goal is to boost occupancy to near 100% full capacity.”

The property currently sits across 11.37 acres. Its 556 units – primarily used to store RVs – span across over 167,000 net rentable square feet.

The Biltmore Bank of Arizona partially funded the acquisition with bank debt.

About Vertical Fields Capital LLC
Vertical Fields Capital LLC, a Washington, D.C.-based real estate development and in-vestment firm, is focused on acquiring, repositioning and operating self-storage facilities in dense and growing in-fill locations in the top MSAs of the United States.