Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Carefree Storage, a 53,952-net rentable square foot self storage facility located in Carthage, NY, according to John Krueger, regional manager of the firm's Manhattan office.
Michael A. Mele, Luke Elliott and Kevin Menendez, self storage investment specialists, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Michael A. Mele and Luke Elliott, investment specialists in Marcus & Millichap's Charlotte Uptown and Tampa offices.
"This transaction was unique with limited demographics but a great upside opportunity," says Elliott.
Carefree Storage is located at 10889 State Route 26 in Carthage, NY. The facility is only eight miles from the Fort Drum, which has a population of approximately 45,000, including active duty military at the Fort Drum reservation, their families and civilian workers. Constructed in 1986 and expanded in subsequent years, the facility has a total of 443 units, including standard storage units ranging from 50 to 200 square feet, in addition to heated and outdoor parking spaces.
The Mele Storage Group
The Mele Storage Group of Marcus & Millichap Florida, Inc specializes in self storage sales and research. We provide top of the line market knowledge, access to the largest pool of qualified investors and exchange buyers and a system of creating the broadest possible exposure for each and every facility. The Mele Storage Group of Marcus & Millichap is your choice for bigger deals, better marketing, higher offers and faster closings.