ZEPHYRHILLS, FLA., January 13, 2016 – 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 Seminole Storage, a 55,225-square foot self-storage facility located in Zephyrhills, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $2,456,000.
Michael A. Mele, senior vice president investments, Luke Elliott, senior associate, and Brian Baldwin, associate, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, Ander Gibbs, a private investor. “Luke, Mike and the entire Mele Group did a terrific job handling the sale and bringing in offers from buyers all over the country. This is the second time I have used them to sell a facility, and gladly would do so again in a heartbeat,” said Gibbs.
Seminole Storage is a fully stabilized self-storage facility located at 38847 County Road 54 and 37822 State Road 54 in Zephyrhills, Florida. The offering contained 306 storage units and five office suites for a total of 55,225 net rentable square feet.
“This transaction highlights the interest in tertiary market facilities; while not a fit for many buyers, our systematic approach brought interest from all over before we ultimately selected the right buyer,” says Elliott.
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About Marcus & Millichap (NYSE: MMI)
With over 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