Sold: Weekly Self-Storage Acquisition Round Up
A local investor purchased the 55,225-square-foot Seminole Storage facility at 38847 County Road 54 in Zephyrhills, FL. The seller was also a local investor. The facility offers 306 units. Michael Mele, Luke Elliott and Brian Baldwin of Marcus & Millichap arranged the transaction.
What the Fed Hike Means for Self-Storage Loans
A new year brings new challenges for self-storage operators. It also brings changes to the financial markets, in particular the end of last year brought news that the Federal Reserve plans to gradually raise interest rates.
Marcus & Millichap Arranges the Sale of a 55,225-Square Foot Self-Storage Facility
ZEPHYRHILLS, FLA., Dec. 30, 2015 - 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 Seminole Storage, a 55,225-net rentable square foot self-storage facility located in Zephyrhills, Florida.
Budget Self Storage in Temple, Hills, MD, Sold
Budget Self Storage, a 64,440-net-rentable-square-foot facility in Temple Hills, Md., recently sold to a growing self-storage investor with properties in Maryland and Pennsylvania, according to a press release by Marcus & Millichap, the commercial real estate firm that brokered the transaction. The seller was local real estate investor who has owned the property for nearly 20 years.
Weekly Self-Storage Development Round Up
Phoenix, AZ-based Wentworth Property Company is converting a former semi-conductor plant at Thomas Road and Pima Road in Scottsdale into a 120,000-square-foot self-storage facility. Completion is expected during the second quarter. The facility will be managed by US Storage Centers.