Marcus & Millichap : Announces the Sale of a Two Property Self-Storage Portfolio in Florida
March 16, 2023 at 08:35 pm IST
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Marcus & Millichap Announces the Sale of a Two Property Self-Storage Portfolio in Florida
March 16, 2023
SEBRING AND LAKE PLACID, Florida, March 16, 2023 - Marcus & Millichap Real Estate Investment Services of Florida, Inc. (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a two property self-storage portfolio located in Sebring and Lake Placid, Florida.
Gabriel Coe, Brett R. Hatcher, and Nathan Coe, investment specialists in Marcus & Millichap's Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Gabriel Coe, Brett R. Hatcher, and Nathan Coe. Ryan Nee, Florida Broker of Record, assisted in closing this transaction.
"These were sold to an out-of-state private buyer after multiple competitive offers as part of a five property portfolio," said Gabriel Coe, the lead agent involved. "The buyer will benefit from the continued income growth at all properties."
All Steel Storage - Sebring and All Steel Storage - Lake Placid are located about nine and a half miles away from each other in south-central Florida about 70 miles west of Sarasota. The facilities feature a combined 238 non-climate-controlled units, eight climate-controlled units, 30 parking spaces, and one rentable commercial space that make up a combined 42,754 net rentable square feet. Both facilities are stabilized, cash-flowing locations with strong historical occupancy rates, and the opportunity for expansion at the Sebring location.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2022, the Company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 16 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2023 15:04:07 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
