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| Michael A. Mele |
NORTH MIAMI, FL, July 15, 2014 – Marcus & Millichap
(NYSE: MMI), a leading commercial real estate investment services firm with
offices throughout the United States and Canada, today announced the sale of North
Miami Land Development, 57,997 square feet of land located in North Miami,
Florida, according to Richard D. Matricaria, regional manager of the firm’s
Tampa office. The asset sold for $1,125,000.
Michael A. Mele, a first vice president investments
and Luke Elliott, associate in Marcus & Millichap’s Tampa office, had the
exclusive listing to market the property on behalf of the seller, a local
developer.
The buyer, Banner Storage Group, was secured and represented
by Sean M. Delaney, a vice president investments in the firm’s Chicago Oak
Brook office.
North Miami Land Development is located at 640-685 NW 133rd
Street in North Miami, Florida. The
property is situated on five parcels of land that have been zoned for
commercial self-storage and consists of approximately 1.33 acres, allowing for
a footprint up to approximately 46,000 buildable square feet, with a maximum
height of 55 feet.
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| Sean M. Delaney |
This investment also includes 9,500 square feet on 133rd
Street and easements in-between the parcels with the right-of-way abandoned.
“This is the first self-storage development site we have
sold since before the downturn,” says Mele.
“It shows that development is back in a big way in south Florida,
particularly in Dade County.”
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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