The Self Storage Advisory Group (SSAG) of real estate firm Cushman & Wakefield (C&W) helped complete the disposition of 73 storage facilities in 2019. Combined, the properties comprised more than 3 million net rentable square feet in 25,334 units. The transactions were spread across 21 states and represented a total value of $412 million, according to a press release.
The sales activity “demonstrates an unrelenting demand for quality self-storage assets from large-scale investors nationwide,” officials said.
Based in Tampa, Fla., SSAG is a 10-person team led by Michael Mele, vice chairman, who joined the company last year from real estate investment firm Marcus & Millichap.
Mele will be speaking at the upcoming Inside Self-Storage World Expo, April 14-17, at The Mirage Hotel & Casino in Las Vegas, where he’ll moderate a special Q&A session focused on self-storage investing and development.
Founded in 1917, C&W offers a complete range of services for all property types including consulting and appraisal, corporate services, debt and equity financing, investment banking, leasing, and sales and acquisitions. The company employs 51,000 people in approximately 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.