Thursday, October 22, 2015

Marcus & Millichap Brokers $5 Million Sale of State Road 52 Storage in Hudson, FL

Michael A. Mele
HUDSON, 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 State Road 52 Storage, a 51,830-square foot self-storage located in Hudson, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $5,000,000.

Michael A. Mele, senior vice president investments in Marcus & Millichap’s Tampa office and senior director of the firm’s National Self Storage Group, had the exclusive listing to market the property on behalf of the seller, a local investor.  The buyer, an institutional owner based out of New York City, was secured and represented by Mele.

State Road 52 Storage is an institutional quality facility located at 11411 State Road 52 in Hudson, Florida. It is five miles east of US Highway 19, a major thoroughfare down the gulf coast of Florida. 

The facility, which was constructed in 2008 and sits on 3.07, consists of 409 climate controlled and non-climate controlled units totaling 43,928 net rentable square feet. The amenities at this facility include sprinklered units, video surveillance, electronic gate access, a fully fenced perimeter and an on-site management office.

“We continue to see the price per square foot increase in these markets, although this deal is even among the highest price paid in Pasco County,” says Mele. “The new owner will see significant upside.”

“The Mele team did an excellent job throughout the entire transaction, from the initial contract, to marketing the facility, to the closing,” said Jerome Ciaravino, the seller of State Road 52 Storage. “I would certainly recommend working with Mike Mele and the entire Mele team.”

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
Vice President/Regional Manager,
Tampa, FL

(813) 387-4700

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