Tuesday, September 8, 2015

Marcus & Millichap Brokers $4.1 MillionSale of Pensacola Self Storage in Pensacola, FL


Michael A. Mele
PENSACOLA, FL, Sept. 8, 2015 – 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 Pensacola Self Storage, a 47,896-square foot self-storage facility located in Pensacola, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

The asset sold for $4,112,000.

Michael A. Mele, senior vice president investment in Marcus & Millichap’s Tampa office and senior director of the firm’s National Self Storage Group, had the exclusive listing to market the property on behalf of the seller, a REIT.  The buyer was secured and represented by Mele.

Pensacola Self Storage is a stabilized, institutional quality asset that is conveniently located just north of Interstate 10 at 9311 Pine Forest Road in Pensacola, Florida. The facility consists of two climate controlled buildings with a total of 47,896 net rentable square feet.

The site is fully secured with electronic key pad access and is monitored by surveillance cameras to ensure safe storage. Constructed in 2004, the facility consists of 434 units which range in size from 15 to 900 square feet and boat and R.V. parking. At the time of the sale, Pensacola Self Storage’s occupancy was at 89 percent.

“The amount of quality offers we received for this property shows how strong the demand is for self-storage in not only the first tier markets, but in secondary markets as well,” says Mele.
  
  For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL

(813) 387-4700

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