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Hanover Holdings Buys US 41 Self Storage in North Fort Myers, Fla.


Hanover Holdings Ltd. recently purchased US 41 Self Storage in North Fort Myers, Fla., from SunTrust Banks Inc. for $3.2 million. Located at 14150 N. Cleveland Ave. the two-story facility has 76,903 square feet in 438 units, 219 of which are climate-controlled. Built in 2006, the property was foreclosed by SunTrust in July. It sits on 9 acres.

The facility is currently listed as iStorage Fort Myers on, which features 26 self-storage properties throughout Alabama, Arizona, California, Florida, Georgia, New Jersey and Pennsylvania.

SunTrust was represented in the transaction by Michael Mele of Marcus & Millichap Real Estate Investment Services. Based in the firm's Tampa, Fla., office Mele is the company's first vice president investments and senior director of its National Self-Storage Group.


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