Brokers from Marcus & Millichap Real Estate Investment Services completed the sale of Out-Back Self Storage, a 24,750-square foot self-storage facility in Dunnellon, Fla., for $1.15 million. Built in 2006 and expanded in 2009, the property has 23,625 net rentable square feet and is situated on 3.32 acres of land. Adam Wides, an investment specialist, and Michael Mele, vice president investments for the Marcus & Millichap Tampa office, represented the seller, a limited liability company, and the buyer, a private investor. Both are based in Florida. The sale price was more than 95 percent of the asking price, and the property closed in 45 days.
With more than 1,200 investment professionals in offices nationwide, Marcus & Millichap is the nation’s largest firm specializing in commercial real estate investments. The company closed 3,441 transactions in 2009.