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| Extra Space Storage, Tampa, FL |
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| Michael A. Mele |
TAMPA, 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 a four-property, 2,332-unit, 250,406-net-rentable-square-foot Extra
Space Storage portfolio in West Florida. The terms of the sale were not
released.
The Extra Space Storage portfolio
transaction marks Tampa Bay Area’s largest self-storage portfolio transaction
in 2014 by square feet and number of units.
Michael
Mele, senior vice president investments, and Brian Baldwin,
associate, both in Marcus & Millichap’s Tampa office, represented the
seller, a private investment firm based in Florida.
The
properties are:
• Extra Space Storage, 47,867 net rentable square feet, 436
units, Tampa, Fla.
• Extra Space Storage, 41,191 net rentable square feet, 432
units, Bradenton, Fla.
• Extra Space Storage, 85,485 net rentable square feet, 560
units, Sarasota, Fla.
• Extra Space Storage, 75,863 net rentable square feet, 904
units, South Pasadena, Fla.
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| Brian Baldwin |
“This transaction was the largest self-storage portfolio
sale in the greater Tampa Bay MSA in 2014,” says Mele. “The acquisition
provides the new owner with a substantial presence in one of Florida’s most
sought-after self-storage markets.”
The properties feature both climate- and non-climate-controlled
units, along with recreational vehicle and boat parking.
The facilities are
fully monitored by video surveillance and feature electronic gate access.
The
Bradenton, Sarasota and South Pasadena properties recently installed solar panels
for tax and utility savings and have new roofs with 10-year warranties.
Additional revenue is generated at the Sarasota facility by an adjacent retail
strip center.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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