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ORLANDO, FL, Nov. 9, 2015 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, today announced the sale of My
Neighborhood Storage Center, a 64,480-square foot self-storage facility located
in Orlando, Florida, according to Richard D. Matricaria, regional manager of
the firm’s Tampa office. The asset sold for $8,500,000.
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 private
investor. The buyer, a REIT, was secured
and represented by Mele.
My Neighborhood Storage
Center is a meticulously maintained, institutional-quality facility located at
10053 Lake Underhill Road in Orlando, Florida.
The facility is situated
on approximately 9.87 acres and was constructed in 1997. It consists of 572
units for a total of 64,480 net rentable square feet, and has both climate and
non-climate controlled units and R.V. parking. It boasts security features that
include video surveillance and electronic gate access. The facility is
currently 92 percent physically occupied based on rentable square footage.
“This facility was very
well maintained and located. The seller, who had built and owned this property
for 17 years, decided to take some chips off the table in this vibrant market,”
says Mele..
For a complete copy of the company’s news release,
please contact:
Richard D. Matricaria
Vice President/Regional
Manager, Tampa
(813) 387-4700
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