BELLEVIEW, FLA., September 24, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sentry Storage, a 38,704-square foot self-storage facility located in Belleview, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.
Michael A. Mele, a first vice president investments, Luke Elliott, associate in Marcus & Millichap’s Tampa office and Richard Jones, an associate in the firm’s Atlanta office, represented the local seller, a private investor. Mele and Elliott also procured and represented the buyer of the property, a limited liability company based in California.
Sentry Storage is located at 6535 SE 110th Street in Belleview, Florida. This is a 30,991 net rentable square foot facility situated on 3.8 acres of land. The property was built in multiple phases between 1987 and 2002 and includes 32 units, of which 74 are climate-controlled units, 125 are standard drive-up units, five are retail bays and 16 are RV and boat parking spaces. The facility consists of six storage buildings, two retail buildings, a second-story manager’s apartment and a propane filling station. The retail building contains the manager’s office and the Pack-N-Send center, as well as the five rentable retail bays.
Amenities at this location include security cameras, alarm system, gated entrance and roll-up doors. The property also benefits from being a U-Haul dealer.
“Our extensive property marketing campaign netted the owner several legitimate offers and at the end of the day, we were able to select a buyer that was thoroughly committed to the process, while structuring a deal that worked for all parties involved,” said Elliott in a statement. “This transaction is also a great indicator that properties in tertiary markets are steadily growing popularity with investors.” adds Elliott.
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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.