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| Michael A. Mele |
WINSTON SALEM, NC – Marcus
& Millichap (NYSE: MMI), a leading commercial real estate investment
services firm with offices throughout the United States and Canada, announced
the sale of the Winston-Salem Self-Storage Opportunity, a 70,962-rentable
square foot self-storage facility located in Winston Salem, North Carolina,
according to Ari Ravi, regional
manager of the firm’s Tampa office.
Luke Elliott and Michael A. Mele, investment specialists in Marcus & Millichap’s
Tampa office, had the exclusive listing to market the property on behalf of the
seller. The buyer, a first-time storage
owner, was also secured and represented by Mele and Elliott. Raj
Ravi, broker of record in Marcus & Millichap’s North Carolina office
assisted in closing this transaction.
Located at 401 Jonestown
Road in Winston Salem, the opportunity was newly-constructed in 2014 and opened
in 2015. Across two floors, the facility offers 558 climate-controlled units on
1.22 acres for a total of 70,962 net rentable square feet.
The facility has an
excellent multitude of amenities, from elevator access to a coffee bar, laptop
station, conference room, multiple loading points and a model unit, with brand
new heating, air conditioning and exterior painting. Situated in the Centre
Stage at Jonestown shopping center, the facility has great signage and highway
visibility with ease of access to U.S. Highway 421, Interstate 40 and U.S.
Highway 158.
“This self-storage
facility was a conversion of an existing retail building. I predict that we
will be seeing a lot more of these projects in the future. There was
considerable upside in this project with the facility still leasing up,” says
Mele, senior managing director investments.
For a complete copy of the company’s news release,
please contact:
Raj Ravi
Regional Manager, North
Carolina
(704) 831-4650
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