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 Storage of Englewood, an 11.84+- Acre RV/Boat Storage Facility located in Englewood, Florida. The asset sold for $6,425,000.
“This is a great example of a win-win for all parties involved. The seller captured the equity he created by building a thriving business, and the buyer bought a well-located facility with tremendous upside,” said Hunter Robey, associate. “Florida remains a premier state to invest capital, and storage is an excellent hedge against inflation,” said Chris Travis, first vice president investments.
Robey and Travis, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, an LLC. The buyer, a local southwest Florida investment company, purchased the property.
Storage of Englewood is located at 2341 Englewood Rd near Lemon Bay, offering quick access to the Gulf of Mexico. Situated on an 11.84-acre site, the outside storage facility is comprised of 725 units and is 94.76% occupied at the time of the sale. The facility features ample LED lighting throughout, an on-site manager, and is equipped with 24-hour surveillance.
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.
