News

  • Marcus & Millichap Arranges The Sale Of US 1 Self Storage For $3 Million
    By Tampa Bay News Wire
    SEBASTIAN, FLA., February 27, 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 US 1 Self Storage, a 55,168-square foot, self-storage facility located in Sebastian, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,000,000. Michael A. Mele, a senior vice president investments and Luke Elliott, associate in Marcus & Millichap’s Tampa Office, represented both parties in this transaction. US 1 Self Storage is situated on 4.85 acres and is located at 9893 North US Highway 1 in Sebastian, Fla. The facility was built in 1991 and expanded in 1996. Units consists of 29 climate-controlled units, 438 non, climate-controlled units and 16 parking spaces. There are also two retail spaces. “US 1 Self Storage is a prime example of the continued trend of larger operators having interest in stable, tertiary markets,” says Elliott. “We had multiple offers on this property and a number of interested parties with significant interest,” concludes Mele.

    See more at: http://www.tampabaynewswire.com/2015/02/28/marcus-millichap-arranges-the-sale-of-us-1-self-storage-for-3-million-32821#sthash.U2JpTfzm.dpuf
  • Extra Space Buys 4-Property Self-Storage Portfolio in FL
    Extra Space Storage Inc., a self-storage real estate investment trust and third-party management firm, recently purchased a four-property portfolio the company has been managing in Florida. The terms of the sale were not released. The seller was a Florida-based private investment firm. The properties are in Bradenton, Sarasota, South Pasadena and Tampa, Fla. The portfolio comprises 250,406 net rentable square feet of storage space in 2,332 units.

    The facilities feature climate control, vehicle parking, video cameras and electronic-gate access. Solar panels were recently installed at the Bradenton, Sarasota and South Pasadena facilities, and all three have new roofs with 10-year warranties, according to the source.

    The transaction represented the largest self-storage portfolio sale in 2014 in Tampa Bay, Fla., based on square footage and number of units, according to a press release from Marcus & Millichap Real Estate Investment Services, the commercial-property investment firm that brokered the deal. Michael Mele, senior vice president of investments, and associate Brian Baldwin, both in the company’s Tampa office, represented the seller.

    Founded in 1971, Marcus & Millichap has more than 1,300 investment professionals in offices throughout the United States and Canada. The company specializes in commercial real estate investment sales, financing, research and advisory services.

    Salt Lake City-based Extra Space owns or operates 1,050 self-storage properties in 35 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 750,000 units and 80 million square feet of rentable space.
  • MICHAEL MELE RECEIVES PRESTIGIOUS SELF-STORAGE ASSOCIATION ACHIEVEMENT AWARD
    By Tara Paronto
    TAMPA, FLA., February 12, 2015 –Marcus & Millichap is pleased to announce that Michael Mele, a senior vice president investments in Marcus & Millichap’s Tampa office, was just ranked the number one self-storage broker within the firm’s National Self-Storage Group for 2014, and was 16th out of nearly 1,300 Marcus & Millichap investment professionals, according to Richard D. Matricaria, vice president and regional manager of the firm’s Tampa office. Mike had another banner year in 2014 with $259 million in sales volume with 52 properties sold in 23 separate transactions.
  • Marcus & Millichap Brokers $5.6M Sale of Self Storage Facility in Miami Lakes
    By John Nelson - RE Business Onlin
    MIAMI LAKES, FLA. — Marcus & Millichap has brokered the $5.6 million sale of Security Self Storage, a 99,757-square-foot self storage center in Miami Lakes. Michael Mele and Luke Elliott of Marcus & Millichap’s Tampa office represented both the buyer and seller in the transaction. Security Self Storage was built in 1999 and is located off Red Road. The facilities are fully gated with an onsite apartment. - See more at: http://rebusinessonline.com/marcus-millichap-brokers-5-6m-sale-of-self-storage-facility-in-miami-lakes/#sthash.hCIsTD4g.dpuf
  • MELE GROUP OPENS A NEW YORK OFFICE
    By Alexander Harris
    http://news.sparThe Mele Group self-storage real estate brokerage has planted its flag in the Big Apple.

    The Mele Group self-storage real estate brokerage has planted its flag in the Big Apple. Kevin Menendez, who joined the Mele Group in 2012, has relocated from the group’s headquarters in Tampa, FL, to lead the firm’s new office in Manhattan, NY. “Really, our main goal is to provide better service to our clients in this area and help them have more exposure,” Menendez told The SpareFoot Storage Beat. The Mele Group is part of the Marcus & Millichap National Self-Storage Group.