ELLENWOOD, GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Rex Storage (top left photo), a 56,325-square foot storage facility located in Ellenwood, Georgia, according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office and John Leonard first vice president and regional manager of the Atlanta office.
The asset commanded a sales price of $1,750,000.Michael A. Mele (middle right photo), a first vice president investments and senior director of Marcus & Millichap’s National Self-Storage Group and Stacey Gorman (middle left photo), an associate in the Atlanta office, had the exclusive listing to market the property on behalf of the seller, a financial institution.
The California-based buyer, a limited liability company, was secured and represented by Mele and Gorman.
Rex Storage was built in 2007 and is located at 5353 Georgia 42. This is a “Class A”, state-of-the-art, self-storage facility situated on three acres of land. The property consists of four buildings and has a large office and manager’s apartment. Amenities include; an electronic gate, cameras, an intercom system and computerized operations as well as a large reader board sign.
“This is another example of the strong demand for distressed self-storage deals. We had several full price offers and chose the buyer who closed in less than two weeks” comments Mele.
Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa, FL, (813) 387-4700
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