ORLANDO, FLA., August 21, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of College Park, a 74,806 rentable square foot self-storage facility located in Orlando, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $6,700,000.
Michael A. Mele, a first vice president investments in Marcus & Millichap’s Tampa office, represented the local seller, a limited liability company and the New York based buyer.
This 665-unit self-storage facility was built in 2000 and is located at 1420 North Orange Blossom Trail in Orlando, Florida.
“Located near the highly desirable Orange Park neighborhood, College Park was a uniquely positioned, stabilized, class “A” facility that spurred a great deal of interest with institutional investors,” said Mele in a statement. “The acquisition of College Park allowed the buyers to increase their footprint in the Florida market with a well-located Orlando MSA facility that supported their investment strategies,” concluded Mele.
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With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.