News

  • Marcus & Millichap Brokers Sale of Bay Area Mini Storage
    By Evelyn Jozsa, Commercial Property Executive
    The Mele Group, the company’s self-storage team, marketed the 635-unit facility located in Corpus Christi. The team represented both the seller and the buyer in the transaction.
  • NYC’s Storage Industry has Crate Expectations
    By Emily Nonko, New York Post
    In a city of gleaming office towers and chic boutique shops, self-storage might seem like the least sexy real estate industry. But in fact, it’s emerged as a growing business in the city, where coveted properties trade between major players for multimillion-dollar sums. Before the bill passed, the industry was on the upswing. There are currently around 920 self-storage facilities spanning 50 million square feet in New York City, according to Michael Mele, a senior managing director with commercial brokerage Marcus & Millichap. The firm released a report that found asking rents at non-climate-controlled facilities increased 3.3 percent to $2.74 per square foot in 2017, while climate-controlled units logged a 1.5 percent rise to $3 per square foot.
  • The Mele Group of Marcus & Millichap Arranges the Sale of a 76,236-NRSF Self-Storage Property in the Miami MSA
    By Marcus & Millichap
    POMPANO BEACH, Fla., January 18, 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 Extra Secure Self-Storage, a 76,236-square foot self-storage located in Pompano Beach, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.
  • The Mele Group of Marcus & Millichap Secures the Sale of Corpus Christi Self-Storage Facility
    By Marcus & Millichap
    CORPUS CHRISTI, TX, January 17, 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 Bay Area Mini Storage, a 95,479-rentable square foot self-storage located in Corpus Christi, Texas, according to Craig R. Swanson, regional manager of the firm’s San Antonio office.
  • Value Store It Buys Self-Storage Facility in Pompano Beach
    By Amanda Rabines, The Real Deal
    UPDATED Jan. 16, 12:55 p.m.: GT Development LLC, led by Thomas P. Richerson, sold the 76,236-square-foot facility at 2250 North Powerline Road for about $130 per square foot. The company paid $1.6 million for the property in 2006 and completed the building in 2010, records show. Value Store It Powerline LLC of Fort Lauderdale bought the warehouse. Value Store It, owned by Todd Ruderman, has properties in Florida and Massachusetts, according to its website.