SELF-STORAGE FACILITY TRADES HANDS FOR $3.4 MILLION IN NEW ORLEANS

NEW ORLEANS — A California-based REIT has acquired Sure Save USA Self-Storage, an 117,155-square-foot self-storage facility in New Orleans. The property sold for $3.4 million. Completed in 2006, the 736-unit facility offers 640 climate-controlled units. Property amenities include elevators, digital surveillance cameras, roll-up doors, RV parking and a manager’s office. Michael Mele of Marcus & Millichap represented the seller, an Ohio-based financial institution. Additional terms of the lease were not released.