News

  • Tampa Area Self Storage Portfolio Sold for $47.9M: Northeast REITs Trade 2,300 Units
    By Justin Sumner, CoStar
    A New York-based real estate investment trust has sold a portfolio of three self-storage facilities located in the Tampa - St. Petersburg - Clearwater MSA to a Pennsylvania-based REIT for $47.93 million, or an average $21,000 per unit. Michael Mele and Luke Elliott with Marcus & Millichap (NYSE: MMI) represented the seller and procured the buyer in the sale.
  • Marcus & Millichap Arranges the Sale of a 29,370-Square Foot Self-Storage Facility
    By Marcus & Millichap
    OAKBROOK TERRACE, IL, April 14, 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 Antioch Storage, a 29,370-square foot self-storage facility with vacant land for potential expansion located in Antioch, IL, according to Steven D. Weinstock, first vice president / regional manager / managing broker of the firm's Chicago Oak Brook office.
  • Self-Storage Property Portfolio Sold for $18.5M
    By BizJournals
    A local, three-property portfolio of self storage units and office space recently sold for more than $18 million. According to a press release, Michael Mele, a senior vice president of investments in Marcus & Millichap’s Tampa office, and Eddie Greenhalgh, a senior associate in Marcus & Millichap’s Birmingham office, brokered the sale for $18.5 million. The sale consisted of 1,782 self storage units as well as more than 30 office suites.
  • This Week's Chicago Deal Sheet
    By Chuck Sudo, Bisnow, Chicago
    Sean Delaney and Michael Mele repped both parties in the sale of Barry’s Storage, a 76k SF self-storage facility in Decatur, IL.
  • Marcus & Millichap Arranges the Sale of a Sterling's Budget Self Storage for $8.9 Million
    By Marcus & Millichap
    STERLING, VA, Apr. 11, 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 Budget Self-Storage, a 56,795-square foot self-storage facility located in Sterling, VA, according to Bryn D. Merrey, regional manager of the firm's Washington, D.C. office. Overall, the asset consisted of 527 non-climate controlled units, ranging from 10 to 525 square feet, and was constructed in 1987 of solid concrete and metal framing.