Self-Storage at Jackrabbit and Thomas

Background

Located on 4.13 acres in Buckeye, AZ in the Phoenix metro area, this ground-up self-storage development project is located in a rapidly growing residential area minutes from the Jackrabbit Trail & Interstate-10 interchange. The subject is directly south of a Fry’s Marketplace anchored commercial center at the NWC of Jackrabbit Trail & Indian School Rd. The number of households within a 3-mile radius of the property grew by over 200% in the period between 2010 and 2022 and is predicted to grow another 69% over the next 10-years,increasing demand for self-storage. Nearby existing self-storage facilities enjoy a high level of occupancy, in most cases more than 90%. Average household income within a 3-mile radius of the property is $113,606.

Investment

Evergreen acquired the property from a defaulted developer through foreclosure in March 2010.  Evergreen intends to develop a total of 662 climate and non-climate self-storage units in a single-story building. The property will be managed by Extra Space Storage.  Located on the hard-corner, the property will provide maximum visibility for potential tenants driving through the intersection.