The self storage facility is located in North Port, Florida
September 20, 2016
: Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Patriot Self Storage of Bobcat Trail, an 83,400-rentable square foot, self storage
Michael A. Mele, senior vice president investments, and Luke Elliott, associate vice president investments, both in Marcus & Millichap's Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Michael A. Mele and Luke Elliott.
"This was a Class A asset in a tertiary market that the developers had done a phenomenal job with. The buyer pool encompassed regional and national groups," says Elliott.
Patriot Self Storage of Bobcat Trail is offering 818 units among 83,400 rentable square feet and 103,990 gross square feet. The facility is situated in a densely residential area with many national retailers in the vicinity and is near Interstate 75. The North Port-Sarasota-Bradenton, Florida Metropolitan Statistical Area is currently experiencing one of the highest domestic migration growth rates in the country.