Wednesday, September 28, 2016

Marcus & Millichap Brokers Sale 83,400-SF Patriot Self Storage of Bobcat Trail in North Port, FL

Patriot Self Storage of Bobcat Trail, North Port, FL
Michael A. Mele
NORTH PORT, 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 Patriot Self Storage of Bobcat Trail, an 83,400 rentable square foot, self-storage facility located in North Port, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.

Michael A. Mele, senior vice president investments, and Luke Elliott, associate vice president investments, 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 represented by Mele and Luke Elliott.

“This was a Class A asset in a tertiary market that the developers had done a phenomenal job with. The buyer pool encompassed regional and national groups,” says Elliott.

Patriot Self Storage of Bobcat Trail is located at 2245 Bobcat Village Center Road in North Port, Florida, offering 818 units among 83,400 rentable square feet and 103,990 gross square feet.

 The facility is situated in a densely residential area with many national retailers in the vicinity and is near Interstate 75. The North Port-Sarasota-Bradenton Metropolitan Statistical Area is currently experiencing one of the highest domestic migration growth rates in the country. North Port comprises the highest land mass and population in the MSA.

“This sale proves the market is still very strong for quality self-storage assets,” adds Mele.

For a complete copy of the company’s news release, please contact:
Ari Ravi
Regional Manager
Tampa, FL

(813) 387-4700

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