Friday, September 17, 2010

Marcus & Millichap Sells 117,155-SF Self-Storage Facility in New Orleans, LA

   NEW ORLEANS, LA, September 16, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sure Save USA Self-Storage (top left photo), an 117,155-square foot self-storage facility located in New Orleans, LA, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $3,400,000.

Michael A. Mele, (middle right photo) Vice President Investments and Senior Director of the National Self-Storage Group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a financial institution based out of Ohio and the buyer, a California-based REIT.  William Hoffpauir, Broker, assisted in closing this transaction.
Sure Save USA Self-Storage consists of 736 units, 640 of which are climate-controlled.  The property was built in 2005 and completed in 2006.  It is positioned with 1,529 feet of frontage on three surrounding roads and located less than a mile from Interstate 10.  Amenities include elevators, digital surveillance cameras, roll-up doors, RV parking and a manager’s office.
“Despite the bad publicity, we think New Orleans is coming back strong.  I think the buyers will do very well with this property” says Mele.

Press Contact: Bryn D. Merrey
Regional Manager, Tampa
(813) 387-4700

Susan Sampson
Marketing Coordinator/Brokerage Administrator
Marcus & Millichap
7650 Courtney Campbell Causeway
Suite 920
Tampa, FL 33607
(813) 387-4700 main
(813) 387-4710 fax

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