SELF STORAGE FACILITY IN ST. PETERSBURG SELLS FOR $10.2M

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ST. PETERSBURG, FLA. — Marcus & Millichap has brokered the $10.2 million sale of Gandy at 4th Street Storage, a 720-unit, six-building self storage property in St. Petersburg. The property, constructed in 2007, is located at 10111 Gandy Blvd. Michael Mele of Marcus & Millichap’s Tampa office represented the seller, a local developer, and the buyer, a national self storage REIT. The sales price ($143 per square foot) is the highest price per square foot for a self storage property that Marcus & Millichap has seen since the downturn, according to Mele. Units range in size from nine square feet to 300 square feet. Approximately 82 percent of the units are climate controlled.

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