PORT CHARLOTTE, FLA., December 1, 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 Value Self Storage, a 35,758-square foot self-storage facility located in Port Charlotte, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,900,000.
Michael A. Mele, senior vice president investments in Marcus & Millichap’s Tampa office and senior director of the firm’s National Self-Storage Group, 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 and Brian Baldwin, associate in the firm’s Tampa office.
“This deal is an example of how well the private client market has rebounded in self-storage,” says Mele.
Value Self Storage is located just off of Port Charlotte’s main thoroughfare at 23227 Freedom Avenue in Port Charlotte, Florida. This facility is comprised of 687 units that range in size from small lockers to 300-square foot units. There is a combination of climate-controlled units, non-climate units, lockers and RV and boat parking. It is situated on approximately 2.83 acres, and has a total of 35,758 net rentable square feet. Value Self Storage was constructed in 1984 and was expanded in 1997 to meet the increasing demand in the area. The property is meticulously maintained and features amenities such as truck rentals, 24-hour gate access, video surveillance and perimeter fencing.
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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