West Palm Beach Self Storage in Riviera Beach, Fla., was sold to an out-of-state private investor. The 3-acre property at 3895 Westroads Drive comprises 40,665 net rentable square feet of storage in 491 units as well as 31 vehicle-parking spaces. The buyer and the seller, also a private investor, were represented in the transaction by Michael Mele as well as Brian Baldwin, investment associate, and Luke Elliott, associate vice president of investments, in the Marcus & Millichap Tampa, Fla., office.
About Marcus & Millichap
Founded in 1971, Marcus & Millichap is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout Canada and the United States. The firm closed more than 8,700 transactions in 2015 with a value of approximately $37.8 billion.