MARCUS & MILLICHAP ARRANGES THE SALE OF VALUE SELF-STORAGE FOR $3.5 MILLION

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    Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Value Self Storage, a 82,295-square foot self-storage facility located in Holiday, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,500,000.

    Michael A. Mele, a first vice president investments in Marcus & Millichap’s Tampa, Fla., office had the exclusive listing to market the property on behalf of the local seller, a private investor. Mele also procured and represented the buyer, a private investor based in New York.

    Value Self Storage was built in 1975 and is located on 4.99 acres at 3118 US Highway 19 in Holiday, Fla. The facility is located in the center of the city surrounded by large commercial and residential developments. Highway 19 has traffic counts of 68,000 cars per day making this a very high volume area and one of the only storage facilities within the city limits of Holiday.

    Value Self Storage has a total of six storage buildings including an on-site car wash, and a building for additional office/retail space. There are 689 self-storage units for a total of 71,830 net rentable square feet.

    “This was a great value and deal and shows, yet again, the consolidation we are seeing in this product type,” says Mele.

    About Marcus & Millichap

    With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally. For more information, please visit: www.MarcusMillichap.com

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