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 development site for a planned 81,858 net rentable square feet storage facility located in Orlando, Florida.
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 property on behalf of the Seller, Florida-based Flagship Companies Group. “The Buyer was excited to add another Florida location to their existing 20+ facilities in the state,” said Mr. LeClaire. The Buyer was Compass Self Storage, a member of the Amsdell family of companies with nearly 100 self storage locations across the United States.
“The Buyer was excited to add another Florida location to their existing 20+ facilities in the state.”
LeClaire believes construction will commence in February 2021 with an approximate delivery date of December 2021. Flagship Companies Group has been hired by the Buyer to do the construction of the improvements. Once completed, this state of art facility will feature 70,808 net rentable square feet of indoor climate controlled storage and 11,500 square feet of drive up non climate controlled space for a total of 81,858 net rentable square feet. The improvements will be situated on approximately 3.06 acres of land right at the intersection of Chickasaw Avenue and the 408 Expressway, a highly desirable location that boast 128,500 passing cars per day. The development will feature a three-story climate-controlled building with a modern institutional quality leasing office and three smaller single-story drive-up buildings to the south. There will be elevated backlit signage on the top of the multi-story building that will be highly visible from both the 408 Expressway and Chickasaw Avenue. The facility features best in class amenities including, but not limited to, individual coded access, wide loading docks, two elevators, paved drives, a large modern leasing office, digital video surveillance throughout and perimeter fencing with gated access for security. The property is conveniently located six miles from downtown Orlando on the city’s east side.