Plans for Future Portfolio Expansion
PORTLAND, Ore., Nov. 10, 2022 /PRNewswire-PRWeb/ -- Carefree Covered RV Storage, a division of Business Property Trust focused on covered recreational vehicle parking, today announced the groundbreaking of its second location in Chandler, Arizona. Construction is expected to be complete by spring 2023 and will make this the sixth location in the company's portfolio, which is strategically targeted in the Phoenix, Arizona, and Dallas, Texas, metropolitan areas.
The site is located at 1000 South Kyrene Road within Lone Butte Development Park, established by the Gila River Indian Community to promote economic development in the area. The $10.2 million project will improve over 13 acres of vacant land to offer 727 spaces of covered parking totaling 273,000 rentable square feet when complete.
The Chandler location will feature high-quality covered parking, wash bays, an RV dump station, state-of-the-art security, and a customer welcome center.
"We are ecstatic to be starting construction on another site in the area, especially with the Gila River Indian Community who has been incredible to work with," said Barry Raber, BPT's president. "Our recently completed sister property in Chandler reached 95% occupancy already. We are proud to be offering an exceptional product to fill this demand within the community."
Development partners on this project will include A.T. Meridian Construction, Cave's Canopies and Steel, Lucent Electric, EAPC Architects Engineers, [Erie & Associates, Inc., and Dwyer Construction Management & Consulting. Financing will be provided by The Commerce Bank of Oregon, a division of Zions Bancorporation, N.A. The project could not be completed without the support of Lone Butte Development LLC.
Business Property Trust had an active year, completing construction on two properties, adding to the two stabilized properties in its portfolio. Chandler will be the company's second site currently under construction. The company has plans to build two additional facilities and is in escrow on another, which would bring the portfolio size to nine and over 2 million square feet in rentable square footage. Contact Raber directly with opportunities of all-RV storage properties or land for development, or for additional information.
Business Property Trust, LLC, is a niche real estate investment firm located in Portland, Oregon. The company, founded in 1999, purchases and operates self-storage through its Bargain Storage brand and covered recreational vehicle parking through Carefree Covered RV Storage.
Kristina Blankenship, Carefree Covered RV Storage, 1 5032783434, firstname.lastname@example.org
SOURCE Carefree Covered RV Storage
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