Mele Group Arranges Sale of Self-Storage Development
The brokerage team found a buyer that expects to complete the 980-unit facility in Pembroke Park, Fla., by summer 2019.
By Evelyn Jozsa
Pembroke Park Self-Storage Development
The Mele Group of Marcus & Millichap has arranged the sale of an 86,000-square-foot, Class A self-storage development in Pembroke Park, Fla. Marcus & Millichap’s Tampa-based self-storage team represented the seller, a limited liability company, and secured the buyer, also a limited liability company. The development is slated for completion by summer 2019.
Strategically located at 2801 SW. 31st Ave., the project is near Interstate 95 and Freeway 858, which offer exposure to more than 293,000 vehicles daily. Additionally, the property will be situated within 4 miles of Hollywood, Fla., and approximately 12 miles from Fort Lauderdale and the Fort Lauderdale-Hollywood International Airport. The new self-storage development will comprise more than 950 climate-controlled units.
“This project has been on the drawing table for a number of years,” said Brian Fulton, investment specialist at Marcus & Millichap, in prepared remarks. “We are excited to see it come to fruition and glad that we could help bring these parties together to facilitate this development.”
Marcus & Millichap’s brokerage team included Fulton and Michael Mele, investment specialists at the company’s Tampa-based office. Earlier this year, Fulton and Mele also worked together to arrange the sale of a 382-unit facility in Spring Hill, Fla.
Image courtesy of Marcus & Millichap
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