McDowell Mountain Storage LLC purchased the lot from Bell 1K3 LLC, the selling entity for Larry Miller Co., in the North Scottsdale submarket. "It's a great location and the timing is right since this is a new developing area," Mark Linsalata, a principal with Phoenix-based Lee & Associates Arizona, tells GlobeSt.com. Linsalata represented both parties in the deal.

The all-cash sale won McDowell Mountain Storage a five-acre site at the corner of 94th Street and Bell Road. The company plans to break ground on a four-story, 105,013-sf building in the next 90 days with hopes of completion by the end of the year. Theestimated $3-million construction project will culminate in about 92,000 sf of rentable storage space, RV and boat parking, a 1,225-sf office and additional living space for an on-site manager.

The facility will include one underground level with air conditioning provided throughout and a climate-controlled wine cellar with storage lockers. Linsalata characterizes mini-storage as a strong product for developing submarkets like North Scottsdale.