The Mele Group Facilitates the Sale of 57,475 NRSF Storage Facility in Mesa, AZ
MoreSpace Mesa, a 57,475-square-foot self-storage facility at 4550 E. Southern Ave., sold for $7.25 million, commercial real estate investment services firm Marcus & Millichap announced. The transaction was a collaboration of two Marcus and Millichap offices with Michael A. Mele and Luke Elliott in Tampa, Florida., and Devin Beasley in Phoenix. This transaction marked the 17th self-storage transaction this year by The Mele Storage Group of Marcus & Millichap. The group had the exclusive listing to market the property on behalf of the seller, a partnership and secured the buyer, also a partnership.
Phoenix-Area Storage Facility Sells for $7M
The Mele Group of Marcus & Millichap has arranged the sale of More Space, a 57,475-square-foot storage facility in Mesa, Ariz. Sunland Partners LTD traded the property for $7.3 million. The brokerage team worked on behalf of the seller and secured the buyer, a joint venture. The transaction marks the 17th self-storage sale arranged by The Mele Group.
The Mele Group of Marcus & Millichap Arranges the Sale of a Mesa, Arizona Self-Storage Facility
MESA, AZ, May 29, 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 MoreSpace Mesa, a self-storage facility located in Mesa, Arizona, according to Ryan Sarbinoff, regional manager of the firm's Phoenix office. The asset sold for $7,250,000.
Creating a Market for Self-Storage Properties Nationwide
In all, Michael A. Mele has participated in nearly 400 deals totaling in excess of $2 billion, earning him the firm’s Chairman’s Circle of Excellence Award, top National Self Storage Association honors in five of the past seven years and, earlier this month, a pair of top Pinnacle awards from the Florida Gulfcoast Commercial Association of Realtors’ accolades.
The Mele Group of Marcus & Millichap Arranges the Sale of A 66,720-NRSF Self-storage Facility in California
“Understanding the unique circumstances of each project is key, and with our experience we are able to create a pool of buyers for the sellers we represent. During our marketing process, we had buyers from all over the country who are clamoring to invest in California self-storage,” states Mr. Elliott.