Marcus & Millichap Arranges the Sale of Magnolia Self Storage in the Orlando MSA
SANFORD, FL, March 28, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Magnolia Self Storage, a 32,725-square foot self-storage located in Sanford, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.
Brian Baldwin, associate, Luke Elliott, vice president investments, and Michael A. Mele senior managing director investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
“In the past 18 months, the number of private client transactions has increased, and the sale of Magnolia Self Storage is indicative of this trend,” states Mele.
Magnolia Self Storage, a 31,200-net rentable square foot facility, is located at 2530 South Magnolia Avenue in Sanford, Florida. It is comprised of 265 climate controlled and non-climate controlled units, ranging from 25 to 600 square feet, 25 boat and RV parking spaces and an on-site manager’s apartment. The facility sits on approximately 2.58 acres in Sanford, Florida, a principal city of the Orlando-Kissimmee-Sanford Metropolitan Statistical Area.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com