------ Monolith Group Development :: Southern Ave Storage Facility @ 9363 E. Southern Ave. Mesa, AZ
Client: Storage Zone
Project Area: Phoenix, Arizona
Square Footage: 103,000
Construction: Block
Project Cost: $4.457 mil
Sale Price: $8.643 mil
Single Year Cash on Cash Return: 20.2%

Project Summary

The Southern Ave Storage Facility began construction in November of 2006 and was completed just prior to the most recent real estate crash. The Monolith Group professionally managed this property under “Storage Zone” and was able to fully lease up the facility during the downfall. The property was sold at a 6 CAP to Extra Space Storage in 2012 for $8,643,000. The property retained very strong cash flow and reached a 20% cash on cash return in its final year before being sold. “This is the best example of recession resistance that we can provide.”