Florida self-storage portfolio deal completed

Price per unit averages $12,200

Marcus & Millichap negotiated the sale of ASAP Storage Florida Portfolio, a three-property, 2,175-unit self-storage portfolio located in the cities of Sarasota, Fort Myers and Lehigh Acres, Fla. The buyer, whose identity was not disclosed, purchased the buildings for $26.5 million from an unidentified seller. Combined, the three properties total 254,602 rentable square feet, including a recently completed expansion of 23,740 rentable square feet and 183 units. The combined occupancy at the 25.2-acre portfolio was 94 percent at the time of sale. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide. ...