DUNNELLON, FLA., November 18, 2015 – 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 Out-Back Self Storage, a 27,696-square foot self-storage facility located in Dunnellon, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,595,000.
Michael A. Mele, senior vice president investments in the Tampa office and senior director of the firm’s National Self-Storage Group, Luke Elliott, associate, and Brian Baldwin, associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Michael Mele, Luke Elliott and Brian Baldwin.
“We ultimately were able to drive six offers to the facility, and the buyer who was selected was an out of area investor, far from the traditional buyer pool for self-storage,” says Baldwin.
Out-Back Self Storage, located at 19545 West Highway 40 in Dunnellon, Florida, is a high quality, stabilized self-storage facility situated on approximately 3.32 acres. Constructed in 2006 and expanded in 2009, this asset consists of 219 units, both climate and non-climate controlled, for a total of 23,750 net rentable square feet. It is a fully fenced and gate facility. The property is less than a quarter mile east of US-41 and less than 17 miles southwest of Interstate 75.
# # #
About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 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 7,600 transactions in 2014 with a value of approximately $33.1 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