Thursday, November 19, 2015

Out-Back Self Storage in Dunnellon, FL Sold for $1.6 Million in Deal Brokered by Marcus & Millichap

Michael A. Mele
DUNNELLON, 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 Out-Back Self Storage, a 27,696-square foot self-storage facility located in Dunnellon, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,595,000.

Michael A. Mele, senior vice president investments in the Tampa office and senior director of the firm’s National Self-Storage Group, Luke Elliott, associate, and Brian Baldwin, associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and also represented by Mele,  Elliott and Baldwin.

“We ultimately were able to drive six offers to the facility, and the buyer who was selected was an out of area investor, far from the traditional buyer pool for self-storage,” says Baldwin.

Out-Back Self Storage, located at 19545 West Highway 40 in Dunnellon, Florida, is a high quality, stabilized self-storage facility situated on approximately 3.32 acres. Constructed in 2006 and expanded in 2009, this asset consists of 219 units, both climate and non-climate controlled, for a total of 23,750 net rentable square feet. It is a fully fenced and gate facility. The property is less than a quarter mile east of US-41 and less than 17 miles southwest of Interstate 75.

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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