Friday, April 1, 2011

Marcus & Millichap Sells 37,631-SF Self-Storage Facility in Panama City Beach, FL for $900,000

PANAMA CITY BEACH, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Top Shelf Storage (top left photo), a 37,631-square foot self-storage facility located in Panama City Beach, Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $900,000.

Michael A. Mele (middle right photo), vice president investments, and senior director of the National Self-Storage Group, and Edwin Greenhalgh (lower left photo), investment specialist with Marcus & Millichap’s Tampa and Birmingham offices respectively, had the listing to market the property on behalf of the seller, a financial institution. 

The buyer, a private investor, was also secured and represented by Mele and Greenhalgh.

 “This sale was significant in that we were able to close this transaction in seven days, start to finish, proving there are cash buyers ready to expand their portfolio in this market” says Mele.

Top Shelf Storage is located at 105 Estes Place.

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

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