FORT MYERS, FLA., October 8, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Storage King Self-Storage, a 100,504-square foot self-storage facility located in Fort Myers, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,876,221.
Michael A. Mele, a first vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida seller, a limited liability company. Mele also procured and represented the buyer of the property, a limited liability company based in Maryland.
Storage King Self-Storage is located at 2235 Colonial Boulevard in Fort Myers, Florida, and is a 75,115 net rentable square foot self-storage facility situated on approximately 3.99 acres of land. The original building was built as a retail furniture store and warehouse.
The property was built in 1969 and converted into a storage facility in 2002. This investment has 630 self-storage units, of which 536 (85 percent) are climate-controlled or record storage units. These units range from 25 to 250 square feet. Property amenities include: record storage management, computerized gate entrance, perimeter fencing, digital surveillance cameras, roll-up doors, drive-up units, manager’s office and an on-site manager’s apartment.
“The sale of Storage King Self-Storage is another prime example of a distressed asset in the market,” said Mele in a statement. “For over five years, this investment has been on our radar and through the extensive and impeccable Marcus & Millichap platform, we were able to find the right buyer to close this deal.”
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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.