Marcus & Millichap Facilitates Self-Storage Sale
Michael Mele and Luke Elliott, both investment specialists, brokered the sale on behalf of the seller, a limited liability company, and procured the buyer, a private investor.
By Evelyn Jozsa
Extra Secure Self Storage
Marcus & Millichap has arranged the sale of Extra Secure Self Storage, a 76,236-square-foot self-storage facility in Pompano Beach, Fla. The company marketed the property on behalf of the seller, a limited liability company and procured the buyer, a private investor under the name Value Store It.
The facility, situated at 2250 N. Powerline Road, at the intersection of Florida State Road 845 and West Copans Road, is exposed to approximately 75,000 vehicles per day. Extra Secure Self Storage also has access to Florida’s major thoroughfares, specifically Interstate 95 and State Road 91—Florida’s Turnpike. Completed in 2009, the four-story building comprises climate- and non-climate-controlled units, ranging from 25 to 288 square feet.
“This was a very strategic purchase for Value Store It,” said Michael Mele, investment specialist at Marcus & Millichap, in prepared statements. “Acquisition gives them a growing market share in a metro area that is dominated by publicly traded REITs.”
Mele, together with Luke Elliott, investment specialist, brokered the sale of the facility, and was also part of the team that recently arranged the sale of Bay Area Mini Storage, a 635-unit self-storage facility in Corspus Christi, Texas.
Image courtesy of Yardi Matrix
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