Marcus & Millichap : Announces the Sale of Apopka Self Storage, a 729 Unit Self-Storage Property in Florida
June 29, 2023 at 05:50 pm
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Marcus & Millichap Announces the Sale of Apopka Self Storage, a 729 Unit Self-Storage Property in Florida
June 29, 2023
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APOPKA, Florida, June 29, 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 Apopka Self Storage, a 67,850 square-foot self-storage facility located in Apopka, Florida. The asset sold for $13 million.
Nathan Coe, Brett R. Hatcher, Gabriel Coe, and Salim Valiani, investment specialists in Marcus & Millichap's Columbus and Orlando offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Ryan Nee, Florida Broker of Record, assisted in closing this transaction.
"This was a brand-new ground-up development in the rapidly growing Apopka market," said Nathan Coe, the lead agent involved. "This closed right after receiving the certificate of occupancy, and the buyer acquired a tremendous asset that should lease up quickly given the growth and demand in the market. It was a tremendous process that saw strong interest from both public and large private storage buyers and shows the continued strength in the self-storage sales market amidst the softened interest rate market conditions."
Apopka Self Storage is located about 14 miles northwest of downtown Orlando in Apopka, Florida. The facility was recently completed and is currently leasing up. It features 729 climate-controlled units and will continue to benefit from its great location with an undersaturated self-storage market and growing surrounding population base.
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About Marcus & Millichap, Inc. (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, 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 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 29 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2023 16:49:26 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. 
