 |
| Michael A. Mele |
STOCKTON, CA
– Marcus & Millichap (NYSE: MMI), a leading commercial real estate
investment services firm with offices throughout the United States and Canada, announced
the sale of Stockton Self Storage, a 53,425-square foot self-storage facility
located in Stockton, CA, according to Ari
Ravi, regional manager of the firm’s Tampa office.
Devin Beasley, investment specialist in Marcus
& Millichap's Phoenix office, Luke
Elliott, first vice president investments in Marcus & Millichap's Tampa
office, Michael A. Mele, senior
managing director, also in the Tampa office, and Daniel Kuchugurny, investment specialist in Marcus &
Millichap's Sacramento office, had the exclusive listing to market the property
on behalf of the seller, a private investor.
The buyer,
an out-of-state private investor, was secured and also represented by Elliott,
Beasley, Mele and Kuchugurny. James
Markel, Broker, assisted in closing this transaction.
“Bidding was
very competitive from a variety of capital groups, offers coming in from
California, the East Coast and Southwestern United States. Ultimately the out
of state buyer obtained a very solid asset,” says Elliott.
 |
| Luke Elliott |
Stockton
Self Storage is located at 1880 West Charter Way, this thoroughfare is also
known as State Route 4. Situated on 6.60 acres, this institutional-quality
facility makes up 53,425 rentable square feet among 409 non-climate controlled
units and 225 covered boat/RV parking spaces for a total of 634 units.
“The
commitment of the buyer and seller to The Mele Group's process resulted in a
smooth and efficient transfer of a high-quality asset which left both parties
very pleased at the closing,” adds Beasley.
For more information about this press
release, please contact:
Regional
Manager, Tampa
(813)
387-4700
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