DENVER, CO | The LeClaire-Schlosser Group of 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 a five-property storage portfolio with locations across central Florida. These assets feature five Class A properties offering a combined 3,020 units and 373,215 net rentable square feet. A sixth facility is under contract and is due to close in February 2022.
Charles “Chico” LeClaire, Executive Managing Director Investments, and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver, Colorado office had the exclusive listing to market the portfolio on behalf of the Seller, a joint venture between Florida-based Flagship Companies Group and Chicago-based Blue Vista Capital Management. “These assets represent the largest and highest quality facilities sold in central Florida in memory,” LeClaire said. “All facilities had leased up in approximately two years. The bidding on the assets was extremely competitive with over a dozen institutions driving up the price. The Buyer, who was a public REIT, was able to significantly add to their already strong position in the market with these acquisitions. The Seller was able to capitalize on an extremely competitive market for fully leased Class A, newly constructed, facilities.”
“These assets represent the largest and highest quality facilities sold in central Florida in memory.”
The portfolio has locations at 1451 Rinehart Road in Sanford, 6174 Goldenrod Road in Orlando, 1830 East State Road 60 in Valrico, 10110 Anderson Road in Tampa, and 13597 South Orange Avenue in Orlando.