Marcus & Millichap Arranges Self-Storage Sale

The company’s self-storage advisory team, The Mele Group, brokered the sale of Hyde Park Storage, a 205-unit asset located in Tampa.

Hyde Park Storage
Hyde Park Storage

The Mele Group of Marcus & Millichap has closed the sale of Hyde Park Storage, a 10,916-rentable-square-foot self-storage facility in Tampa. Marcus & Millichap’s investment specialists marketed the property on behalf of the seller and procured the buyer, both private investors. 

Located at 1600 W. Platt St., the asset was built in 1990 and comprises 205 climate-controlled units ranging from 25 to 150 square feet. The storage facility is situated alongside the Selmon Expressway in a densely populated area.

“We have worked with the seller for over 18 years to maximize their value through multiple market swings,” said Michael Mele, investment specialist at Marcus & Millichap, in prepared statements. “Although a smaller site, this facility is uniquely positioned in the center of Hyde Park.”

The brokerage team included Mele, Luke Elliott and Brian Fulton, investment specialists. Last month, Marcus & Millichap also facilitated the sale of Extra Secure Self Storage, a 76,236-square-foot asset in Pompano Beach, Fla.

Image courtesy of Yardi Matrix