Three Self-Storage Facilities Sold in Florida Market
|Copyright 2014 by Virgo Publishing.|
|Posted on: 10/21/2010|
Rutland Northeast Storage, an 11,973 net rentable-square-foot self-storage facility in St. Petersburg, Fla., recently sold for just over $1 million. Built in 1974, Rutland Northeast Storage was converted to self-storage in 2003.
Marcus & Millichap Real Estate Investment Services brokered the sale. Michael A. Mele, vice president investments and senior director of the National Self-Storage Group, along with Adam Wides, investment specialist in the firm’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a limited liability company.
Marcus & Millichap also brokered the sale of two other self-storage facilities in the Florida market. Tallahassee Self Storage, a 93,135 net rentable-square-foot self-storage facility in Tallahassee, Fla., sold for $4.2 million. Mele represented the seller, a Florida-based owner/developer and the Texas-based buyer, a limited liability company.
Built in 1988 and renovated in 2006, Tallahassee Self Storage is on 6 acres of land. Amenities include climate-controlled and non-climate-controlled units, digital surveillance and a manager’s office.
Mele also represented the buyer and seller of Assured Self Storage, an 84,471 net rentable- square-foot self-storage facility in Altamonte Springs, Fla. The property, owned by a national financial institution, sold for $5.3 million to a private equity company. Built in 1998, Assured Self Storage includes five buildings on 4.34 acres of land
With more than 1,200 investment professionals in offices nationwide, Marcus & Millichap is the nation’s largest firm specializing in commercial real estate investments.