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| Safe and Sound Storage, 1400 Northeast Savannah Road Jensen Beach, FL |
JENSEN BEACH, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced the sale of Safe and Sound Storage,
a 797-unit, 82,949-square-foot self-storage facility in Jensen Beach, Fla.
The commercial real estate asset sold for $8,600,000 or $135
per square foot.
Michael Mele, senior vice president investments, and Luke
Elliott, associate, both in Marcus & Millichap’s Tampa office, had the
exclusive listing to market the property on behalf of the seller, a private
investor. Mele and Elliott also represented the buyer, a New York-based
institutional investor.
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| Michael A. Mele |
“Quality assets such as Safe and Sound are in high demand in
the current commercial real estate investment environment,” says Mele.
“With this particular facility, the seller had been
approached by several off-market buyers,” adds Elliott. “Though our system we
were able to bring in higher offers, manage the process, and ultimately put
substantially more dollars in the seller’s pocket.”
Safe and Sound Storage was constructed in 1989 on nearly
eight acres at 1400 Northeast Savannah Road in Jensen Beach.
The property
features 10 one-story buildings, a leasing office, climate-controlled units,
standard units, and covered parking for recreational vehicles.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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