Tuesday, October 8, 2013

Marcus & Millichap Arranges Sale of Storage King Self-Storage in Fort Myers, FL for $3.876 Million

  
Storage King Self-Storage, 2235 Colonial Boulevard, Fort Myers, FL
  
FORT MYERS, FL, Oct. 8, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Storage King Self-Storage, a 100,504-square foot self-storage facility located in Fort Myers, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,876,221.

Michael A. Mele
Michael A. Mele, a first vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida seller, a limited liability company.  Mele also procured and represented the buyer of the property, a limited liability company based in Maryland.

Storage King Self-Storage is located at 2235 Colonial Boulevard in Fort Myers, Florida, and is a 75,115 net rentable square foot self-storage facility situated on approximately 3.99 acres of land.  The original building was built as a retail furniture store and warehouse. 

The property was built in 1969 and converted into a storage facility in 2002.  This investment has 630 self-storage units, of which 536 (85 percent) are climate-controlled or record storage units. These units range from 25 to 250 square feet. 

Property amenities include: record storage management, computerized gate entrance, perimeter fencing, digital surveillance cameras, roll-up doors, drive-up units, manager’s office and an on-site manager’s apartment.

“The sale of Storage King Self-Storage is another prime example of a distressed asset in the market,” said Mele in a statement.  

“For over five years, this investment has been on our radar and through the extensive and impeccable Marcus & Millichap platform, we were able to find the right buyer to close this deal.”

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700
  

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