Thursday, December 18, 2014

$8.6 Million Buys 797-Unit Southeast Florida Self-Storage Asset

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.

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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