TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of the Storage Center Inc. Portfolio, a three-property, 1,958-unit, 218,200-square foot self-storage portfolio located in Lakeland, Fla. and Auburndale, Fla. The terms of the sale were not disclosed.
Michael A. Mele (middle right photo), a first vice president investments and senior director of Marcus & Millichap’s National Self-Storage Group, represented the seller, a privately held firm located in Lakeland, Fla. The buyer was Extra Space Storage, a public real estate investment trust (REIT) based in Salt Lake City.
“This is an exciting transaction for self-storage property owners and investors in Central Florida and a positive sign that REITs are once again interested in Florida,” says Mele. “The sale allowed the buyer to secure a substantial footprint in the Lakeland self-storage market with just one purchase.”
The properties’ locations are:
- 1012 U.S. Highway 92 W. Auburndale, Fla. (top left photo)
- 2190 Harden Boulevard, Lakeland, Fla.
- 6445 S. Florida Avenue, Lakeland, Fla.
Each property is situated on approximately18.8 acres and all are located within 12 miles of each other.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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