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 iStorage.com, 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.
- CoStar Group: Hanover Holdings Acquires US 41 Self Storage Facility