Bankruptcy Auction Set for 59-Unit Self-Storage Facility Stormax USA in Albuquerque
- Nov 13, 2014
Albuquerque-based self-storage facility Stormax USA has filed for bankruptcy. The company’s storage site, containing 59 large units totaling 52,887-sq.ft., will be sold through a live auction on Nov. 24.
Sperry Van Ness Auction Services’ Louis B. Fisher III, CAI, is leading the auction efforts. Written bids are due Nov. 21 and will sell to the highest bidder per the court order.
The property is located at 100-106 Mescalero NW on a 2.05-acre lot size. The units feature 14- to 20-foot ceiling heights, ideal for contractors and trade professionals to store materials and dry storage of furniture and vehicles. A 7,200-sq.-ft. warehouse is also available for rent or it can be refurbished into 10-12 full-sized units. Additionally, Stormax USA is equipped with non-stop secured access, a 14-camera security system, and security fencing. Currently the property is 90 percent occupied.
“We anticipate this will be a much sought-after property as little marketing was needed to attract tenants and keep the property near capacity,” explained Fisher. “In addition, the security systems in place and the size of the units make it well-suited for the growing, area business community and local residents.”