MIAMI, Fla., August 13, 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 Doral Self Storage, a 58,177-square foot self-storage facility located in Miami, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $4,600,000.
Michael A. Mele, a senior vice president investments in Marcus & Millichap’s Tampa office, represented both parties in the transaction.
Doral Self Storage is located in the highly desirable primary market of Miami, Fla., at 5055 NW 77th Avenue. This facility was built in 1986 and consists of 611 units for a total of 57,240 net rentable square feet. Units range in size from 15 to 300 square feet and there are thirteen rentable parking spaces. All units are located on the ground level for easy drive-up access and hassle-free uploading from the driveways. The perimeter is entirely fenced and surveillance cameras are prevalent throughout the property. Access is granted through electronic keypad entry, guaranteeing secure storage. Doral Self Storage features an on-site rental office and a second-story apartment that allows for easy and efficient on-site management.
“This was a very smooth deal and beneficial for both the buyer and the seller,” says Mele. “It also demonstrates the continued consolidation of self-storage in the Dade County market.”
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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