Marcus & Millichap Brokers Sale of 3 Self-Storage Facilities in Florida for Total $10.5 Million

 Tallahassee Self Storage Commands $4.2 Million

 TALLAHASSEE, FL, Oct. 18, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Tallahassee Self Storage (top left photo), a 93,135 net rentable square foot self-storage facility located in Tallahassee, Fla., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $4.2 million.

Michael A. Mele (top 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 Florida-based owner/developer and the Texas-based buyer, a limited liability company.

Tallahassee Self Storage is situated on 6.0 acres MOL of land.  It was built in 1988, renovated in 2006 and is located at 5086 Tennessee Capital Boulevard.  

This self-storage facility offers amenities ranging from climate controlled and non-climate controlled units, computerized gate entrance, digital surveillance, roll-up doors and a manager’s office.

“This purchase will allow the buyer to gain economies of scale in that market,” says Mele.

Assured Self-Storage in Altamonte Springs, FL Sells for $5,385,100

ALTAMONTE SPRINGS, FL, Oct. 18, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Assured Self Storage (middle right photo), an 84,471 net rentable square foot self-storage facility property located in Altamonte Springs, Fla., according to Bryn D. Merrey, regional manager of the firm’s Tampa office.

The asset commanded a sales price of $5,385,100.

Michael A. Mele, 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 national financial institution and the buyer, a private equity company.

Assured Self Storage was built in 1998 and is located at 510 Douglas Avenue.  The facility is situated on 4.34 acres of land and consists of five buildings.

“This was our third bank deal this year,” says Mele.  “We have several more under contract, and I’m sure we will see many more in 2011.”

 Rutland Northeast Storage in St. Petersburg Goes for $1,070,500

ST. PETERSBURG, FL,  Oct. 18, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Rutland Northeast Storage, an 11,973 net rentable square foot self-storage facility located in St. Petersburg, Fla., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $1,070,500.

Michael A. Mele, vice president investments and senior director of the National Self-Storage Group, along with Adam Wides (bottom left photo), investment specialist in the firm’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a limited liability company.

 The buyer, a private equity company based out of the southeastern United States, was also secured and represented by Mele and Wides.  This was Mele’s 14th self-storage closing of 2010.

Rutland Northeast Storage was built in 1974 and converted to storage in 2003.  It is located at 898 30th Avenue North.

  “Although this property is small, it has a great infill location,” says Mele.  “The buyers will do very well with this facility.”

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

Grubb & Ellis Represents Macys.com in Lease Expansion of Headquarters Space in San Francisco

  

 SAN FRANCISCO, CA – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Daniel Cressman (middle right photo), executive vice president,  represented Macys.com in a lease expansion of two additional floors for an aggregate 100,000 square feet of office space at the historic Monadnock building (top left photo), located at 685 Market St. 

 A subsidiary of Macy’s Inc., the online department store leased an additional 37,737 square feet of office space at the 10-story tower in downtown San Francisco. 

 According to Macy’s Inc., the combined online sales volume of Macys.com and Bloomingdales.com was up approximately 29.3 percent year-over-year as of September 2010.

 “The continued increase in sales volume led the company to need additional space at the Macys.com headquarters,” said Cressman, who had previously represented Macys.com in its expansion to more than 60,000 square feet of space at 685 Market St., in 2008. 

 Scott Harper of Colliers International represented the property’s owner, Prudential Real Estate, in the expansion. 

  Contact:  Julia McCartney, Phone:  714.975.2230                                     

Email:  julia.mccartney@grubb-ellis.com

John F. Mix Joins Grubb & Ellis as Senior Vice President, Financial Services Asset Management

 SAN FRANCISCO, CA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that John F. Mix (middle left photo) has joined the company as senior vice president and Bay Area leader of the company’s Financial Services Asset Management group. 

 In his new role, Mix will be responsible for the marketing and account management of the company’s Financial Services Asset Management group, which offers strategic counsel and a full range of services to financial institutions and special servicers looking to create value through their real estate-owned portfolios.

 “John brings a wealth of long-term financial relationships and is very well recognized throughout the San Francisco Bay Area.  We couldn’t be more pleased to have him join us,” said Mark Geisreiter (bottom right photo), executive vice president, and regional managing director of Grubb & Ellis’ Bay Area Real Estate Services operations. 

 “His addition is consistent with our strategy to substantially increase the services we provide our Bay Area clients.”

 Mix is one of 34 real estate services professionals to join Grubb & Ellis in the Bay Area since January 2010. 

Contact: Julia McCartney, Phone: 714.975.2230                                     

Email: julia.mccartney@grubb-ellis.com

Grubb & Ellis Selected to Market Historic,1.1-Million-SF Clock Tower Place in Maynard

 BOSTON, MA– Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has been selected by Wellesley/Rosewood Maynard Mills, L.P. to lease Clock Tower Place (top left photo), a 1.1-million-square-foot office development located in Maynard.

 Stephen Cook, senior vice president, Jack Kerrigan, executive vice president, Mark Coelho, senior associate, and John Coakley, senior associate, will be responsible for leasing the building. 

 “Clock Tower Place is truly an astounding value option for users of office and flex space,” said Cook.  “The onsite amenities rival those of any Class A building in the country, while the history and construction of the building create a business environment full of character, creativity and progress.”

Built in 1847, the property’s 13 red brick buildings have served a number of historically relevant purposes, including making wool for carpets in the 1840s, wool blankets for Union soldiers during the Civil War and plastics in the 1950s. 

In 1957, Digital Equipment Company was founded within the mill’s walls, starting out with a modest 8,600 square feet and ultimately purchasing the campus in 1974 as the company grew to become a pioneer in the rise of the computer. 

Following Compaq’s acquisition of Digital Equipment in 1998, the mill was renamed Clock Tower Place and became one of the largest multi-tenant buildings in New England.  Its clock tower, built in 1892, is the largest operational hand-wound clock tower in the U.S.

 “The fact that Wellesley Management is headquartered at Clock Tower Place adds an important dimension to the offering,” Kerrigan added.

 “As a result, the campus has a strong, well-capitalized and active owner onsite, complete with property management, site planning, legal and construction all in-house.  That’s a tremendous benefit for tenants.”

Today, the building has approximately 90 tenants and contiguous space from 200 square feet to 250,000 square feet.

 It features classic brick-and-beam interiors with hardwood floors and ample natural light provided by oversize windows. 

The onsite amenities include the Clock Works Café, a full-service printer, a day care facility, self-storage facility, meeting/convention services, bank, parking garage, shuttle service to public transit, coffee shop, free Wi-Fi and fitness and tanning services through Gold’s Gym.

 The campus is located among all that downtown Maynard has to offer, including restaurants, pubs, retail and other establishments, and is a short drive from numerous scenic and recreational areas including Maynard Country Club Golf Course (middle left photo with map on bottom right), Walden Pond, lakes, rivers, apple orchards and jogging paths.

 Clock Tower Place has a TIF agreement and ETA designation in place that offers reduced tax rates and no personal property tax. 

 For more information, contact Cook at 617.772.7216 or via e-mail at stephen.cook@grubb-ellis.com

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 Contact: Erin Mays, Phone: 312.698.6735

Email:  erin.mays@grubb-ellis.com