The Mele Group of Marcus & Millichap Sells All U Can Storage I & II Portfolio for $2,128,500

TAMPA, FL --The sale of All U Can Storage I & II Portfolio (site map at left) has been announced by Michael A. Mele, (photo top right) Vice President/ Investments and The Mele Group of Marcus & Millichap Real Estate.

The property sold for $2,128,500 to an individual investor based in Bradenton, Florida. Mike Mele, Scott Rutherford, and Will Gendron of The Mele Group of Marcus & Millichap represented both parties in the transaction.

“This was an excellent opportunity for these experienced self storage operators to acquire a local portfolio with realistic upside in rents and occupancy," says Mele. "Due to the unique nature of self storage properties, our specialization and expertise in the industry were vital in communicating with the buyer and seller to complete this transaction."

The All U Can Storage Portfolio is a 38,200 net rentable square feet self storage portfolio that sits on a combined 2.81 (MOL) acres of ground for its two locations in Bradenton, Florida. The portfolio offered the opportunity for the buyers to purchase a stabilized self storage facility located in one of the fastest growing counties in Florida with substantial upside by raising rents and maximizing economic occupancy.

Contacts:

Michael A. Mele

Marcus & Millichap

813 387 4700

Elizabeth Scarwid
Marketing Coordinator
The Mele Group of Marcus & Millichap
Real Estate Investment Brokerage Company of Florida
7650 Courtney Campbell Causeway, # 920
Tampa, FL 33607