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| Michael A. Mele |
LEESBURG, 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 Leesburg Self Storage, a
60,420 square-foot self-storage facility located in Leesburg, Fla., according
to Richard D. Matricaria, regional manager of the firm’s Tampa office.
The asset sold for
$3,700,000.
Michael A. Mele, senior vice president investments and senior director of the firm’s
National Self Storage Group, in Marcus & Millichap’s Tampa office had the
exclusive listing to market the property on behalf of the seller, a private
investor. The buyer, a REIT, was secured
and represented by Mele.
Leesburg Self Storage is
located at 1435 Center Street in Leesburg, Florida. It was constructed in 1988
and expanded in 2007. The property consists of 488-units for a total of 60,420
net rentable square feet situated on approximately 3.93 acres. The property
sits off Highway 27 approximately 10 miles north of the Florida Turnpike and it
is just south of The Villages, a highly desirable retirement community.
“We are seeing more and
more smaller owner/operators finding it hard to compete against the big guys in
today’s market, and they are taking advantage of record prices being paid
today. This sale is just another example of the consolidation of the industry
by large institutional owners,” said Mele.
For a complete copy of the company’s news release,
please contact:
Richard D. Matricaria
Vice President/Regional
Manager, Tampa
(813) 387-4700
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