Marcus & Millichap : Brokers 26-Property Self-Storage Transaction in Central Florida
February 15, 2023 at 05:05 am IST
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Marcus & Millichap Brokers 26-Property Self-Storage Transaction in Central Florida
February 14, 2023
OCALA, Fla., Feb. 14, 2023 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the Neighborhood Storage self-storage portfolio in and around Ocala, Florida. The transaction is part of a 28-property portfolio that encompasses over 1 million square feet.
"This sale is a significant milestone for the firm's self-storage business as it further demonstrates our ability to complete large, sophisticated assignments at the highest level," said Nathan Coe, senior vice president investments, Marcus & Millichap. "Even with interest rate movement and market softening, we conducted an extremely competitive process. We gained interest from some of the industry's largest buyers, procured strong offers from public REITs and large private groups, and achieved tremendous pricing."
Nathan Coe, Gabriel Coe, and Brett Hatcher represented the seller and procured the buyer. Located between five and 25 miles of each other, the facilities all have easily accessible locations and excellent visibility in rapidly growing markets. Approximately 85% occupied at the time of the sale, the portfolio has a mix of non-climate-controlled and climate-controlled units. Ryan Nee, senior vice president and division manager is Marcus & Millichap's broker of record in Florida.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 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 clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 14 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2023 23:34:05 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. 
