News

The Mele Group Arranges the Sale of Magnolia Self Storage in the Orlando MSA
By Marcus & Millichap

SANFORD, FL, March 24, 2017 – 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 Magnolia Self Storage, a 32,725-square foot self-storage located in Sanford, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.

Brian Baldwin, associate, Luke Elliott, vice president investments, and Michael A. Mele senior managing director investments, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.

"In the past 18 months, the number of private client transactions has increased, and the sale of Magnolia Self Storage is indicative of this trend," states Mele.

Magnolia Self Storage, a 31,200-net rentable square foot facility, is located at 2530 South Magnolia Avenue in Sanford, Florida. It is comprised of 265 climate controlled and non-climate controlled units, ranging from 25 to 600 square feet, 25 boat and RV parking spaces and an on-site manager’s apartment. The facility sits on approximately 2.58 acres in Sanford, Florida, a principal city of the Orlando-Kissimmee-Sanford Metropolitan Statistical Area.