Gilbert, AZ

In July 2015, we acquired a run-down, mismanaged recreational vehicle (RV) storage facility on approximately 11.3 acres of land at 105 E. Baseline Rd in Gilbert, a suburb of Phoenix. The property consisted of approximately 167,500 net rentable square feet comprised of 287 covered parking spaces and 269 uncovered spaces. This property was the closest RV storage facility to Phoenix, located in a high-income community with convenient access to the highways.

We modernized and improved the property, hired local operator Cox Armored Mini Storage to manage the daily operations and implemented a strong marketing campaign. Occupancy increased from 73% in July 2015 to 93% in July 2017 and the property net operating income doubled during this same period.

We sold the RV facility in September 2017.