Rosewood secures first self-storage facility in Arizona, marking 23rd state
Tucson, Arizona (May 24, 2023) – Rosewood Property Company recently acquired a new self-storage facility in Tucson, Arizona, marking the company’s 78th self-storage facility across the nation and first in the Grand Canyon state.
Located at 770 N. Kolb Road, near the intersection with E. Speedway Boulevard, the facility features 66,429 square feet of rentable square feet across 661 units of various sizes and types. The facility is located in a prime area of Tucson, about 11 miles from I-10 and 20 minutes from downtown.
“Acquiring this facility allows us to unlock great opportunities in the thriving state of Arizona and expand our self-storage footprint within the Southwest region,” said Brandon Cooke, Vice President of Acquisitions, Rosewood Property Company. “This facility offers the needed amenities in a vital area of east Tucson with easy access to highway, making it a great fit for our portfolio.”
This facility is the former home of the Gateway Century 12 movie theater, which has been transformed into this climate-controlled self-storage project. Verdad oversaw the re-development and sale of this project, while Barbara Guffey of Blue Horizon Storage served as the broker. Extra Space Storage will continue to serve as the property management company.
“We made our first self-storage purchase in 2012, viewing the emerging sector as a great fit for our long-hold strategy, and 11 years later, we continue to see tremendous value in this asset class,” said Rick Perdue, President of Rosewood Property Company. “This Tucson facility will make a nice addition to our growth in the Southwest region.”
Rosewood Property Company’s self-storage program possesses the ability to close quickly because of the firm’s access to direct internal capital. This acquisition brings Rosewood’s total acquired self-storage facility square footage to 76.2 million across 23 states.