TAMPA, Fla., May 1, 2014 – 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 Security Mini Storage, a 66,877-square foot self-storage located in Tampa, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,815,000.
Michael A. Mele, a first vice president investments and Luke Elliott, investment specialist in Marcus & Millichap’s Tampa office, represented both parties in the transaction.
Built in 1972 and located at 4120 East 10th Avenue in Tampa, Fla., Security Mini Storage consists of an eleven-building facility containing 60,063 net rentable square feet. There are 542 total storage units that range in size from 50- to 600 square feet.
“Our marketing of this facility attracted the attention of both national and local investors, demonstrating the attraction to value add assets in stabilized markets,” says Elliott.
# # #
About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment 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 6,600 transactions in 2013 with a value of approximately $24 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