NORTH CHESTERFIELD, Va., February 9, 2018 – 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 Courthouse Land, comprised of 7.3-acres of land in North Chesterfield, Virginia, according to Ari Ravi, regional manager of the firm’s Tampa office.
Michael A. Mele and Luke Elliott, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Michael A. Mele and Luke Elliott.
The Courthouse Land Development is located in the Greater Richmond Area. The sale consisted of an approved development site for an institutional-quality, self-storage facility with visibility along both Virginia Highway 653 and 647, providing an ideal location in a residentially-dense area at 27 North Courthouse Road.
“Interest in development sites remains strong,” says Mele. “Many larger groups continue to find optimal pockets to develop self-storage facilities in secondary markets.”