Tampa Area Self Storage Portfolio Sold for $47.9M: Northeast REITs Trade 2,300 Units
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
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
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
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
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.