News

  • Madison Development presses pause on new self-storage projects
    By John Egan, Sparefoot
    While major self-storage operators like CubeSmart and Extra Space Storage are likely to shy away from developing in New York City — at least for the time being — they stand to profit even more from their existing facilities as self-storage supply fails to catch up with growing demand and rental rates go up accordingly, Mele said. Today, New York City remains one of the most underserved markets in the U.S., according to Michael Mele, executive director of Marcus & Millichap’s National Self-Storage Group, with about 2.5 square feet of self-storage per person, compared with the national average of about 5 square feet per person.
  • New Jersey Self-Storage Facility Sells for $9 Million
    By Marcus & Millichap
    MILLVILLE, NJ, January 7, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Millville Self Storage, a 78,875-square-foot self-storage facility with 707 units and 44 parking spaces located in Millville, NJ. After successful marketing process that generated multiple offers, the asset sold for $9,000,000 which equates to $114 per square foot.
  • The Mele Group Of Marcus & Millichap Arranges The Sale Of A 38,140SF Self-Storage Facility In Asheville, NC
    By CityBizList
    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 South Park Storage, a 38,140-square-foot self-storage located in Asheville, North Carolina, according to Ari Ravi, regional manager of the firm’s Tampa office. Brian Fulton, 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 private investor. Furthermore, the team represented the buyer, also a private investor.
  • The Mele Group of Marcus & Millichap Arranges the Sale of an Asheville, North Carolina Self-Storage Facility
    By Marcus & Millichap
    ASHEVILLE, N.C., January 2, 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 South Park Storage, a 38,140-square-foot self-storage located in Asheville, North Carolina, according to Ari Ravi, regional manager of the firm’s Tampa office.
  • The Mele Group of Marcus & Millichap Secures the Sale of an Orange Park, Florida Self-Storage Facility
    By Marcus & Millichap
    ORANGE PARK, Fla., Dec. 27, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Best Little Storehouse, a 58,425-square-foot self-storage facility located in Orange Park, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.