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 Extra Secure Self-Storage, a 76,236-square foot self-storage located in Pompano Beach, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.
Michael A. Mele and Luke Elliott, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured and represented by Mele and Elliott.
“This was a very strategic purchase for Value Store It,” said Mele. “Acquisition gives them a growing market share in a metro area that is dominated by publicly-traded REITs.”
Extra Secure Self Storage is a Class A, institutional-quality self-storage facility situated in one of the most sought-after primary markets in the country. Located at 2250 North Powerline Road in Pompano Beach, Florida, the stabilized facility benefits from excellent visibility and traffic counts along the intersection of Florida State Road 845 and West Copans Road totaling approximately 75,000 vehicles daily from all directions. Additionally, the facility has quick access to two of Florida’s main thoroughfares, Interstate 95 and Florida’s Turnpike.
“This client success was the result of a 10-year plus relationship with the owner of the site. The transaction was a win-win for all parties involved,” said Elliott.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com
