Weekly Self-Storage Development Round Up
MCSS Self Storage (formerly Miami City Self Storage) has acquired its eighth development site, located at 1781 South Park Road in Pembroke Park, FL. The completed facility will span 85,000-square-feet and offer 1,139 units. A third party REIT, according to MCSS, will manage the new facility. With the new project, Miami City is currently developing about 1.5 million square feet of storage space in Florida.
Real Estate Roundup: Self-Storage Transactions December 2015
Self-storage properties are constantly changing hands, and Inside Self-Storage is regularly notified of these market transactions. Many are covered in detail on the ISS website and available for viewing on the “Real Estate” topics page. Following are additional acquisitions and sales that weren’t covered independently due to missing information such as buyer, seller, sale price or other relevant details.
Florida Sees Flurry of Self-Storage Acquisitions
Sales in Florida dominated self-storage acquisition activity in November. Most of the recent transactions identified by the SpareFoot Storage Beat over the last two weeks were located in the state.
Public Storage purchased the 64,480-square-foot My Neighborhood Storage Center facility in Orlando, FL for $8.5 million according to property records. The facility at 10053 Lake Underhill Road was constructed in 1997 and totals 572 units. The facility is currently 92 percent occupied according to Marcus & Millichap’s Michael Mele, who brokered the transaction. The seller was Titan Liberty Lake Underhill Joint Venture.
Cocoa Beach Self-Storage Asset Switches Hands
Marcus & Millichap brokers sale of an approximately 29,000-square foot self-storage facility located in Cocoa Beach, Fla.
Marcus & Millichap Arranges the Sale of a 27,696-Square Foot Self-Storage Facility
DUNNELLON, FLA., November 13, 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 Out-Back Self Storage, a 27,696-square foot self-storage located in Dunnellon, Florida.