Tampa, FL, June 01, 2007 --(PR.com
)-- Marcus & Millichap's Mele Storage Group has hit a significant milestone in self-storage facility sales. In just eight years, the Tampa-based brokerage has surpassed the $300 million mark to become one of the firm's top specialty brokers.
Led by East Coast Self Storage Specialist Mike Mele, the Mele Storage Group is coming off a banner year. In 2006, the brokerage closed $71.5 million in sales in Florida markets across the state. This achievement earned Mele distinction as one of Marcus & Millichap's top brokers in Central Florida, an honor he's received for the past three years.
"The self-storage industry has changed dramatically since 1999. We've seen unprecedented growth, Wall Street has its eye on the business, and the long-term prospects are encouraging," said Michael A. Mele, Senior Investment Associate at Marcus & Millichap's Mele Storage Group and president of the Florida Self Storage Association. "Going forward, the mindset should be less of a 'land grab' and more of a forward-thinking look at a maturing industry."
The Mele Storage Group currently holds over $150.9 million in Current and Under Contract listings and boasts a database of over 5,000 buyers that are actively seeking to expand their East Coast portfolios. Mele has built long-standing relationships with clients on both sides of the transaction table, in part, by keeping his finger on the pulse of market variables, such as rent figures, recent sales and new construction. He knows which markets are overbuilt and which are emerging, and he understands how to recognize and prepare investors for shifting real estate cycles. Mele's knowledge of the industry helps ensure investors are leveraging deals that make sense today and tomorrow.
The Mele Group has closed $41.1 million worth of self-storage deals so far in 2007. Some of the highlights include the ASAP Self Storage Portfolio mega-deal which closed at $26.5 million, the $4 million sale of Armor Storage in Spring Hill, Fla. and the $5.8 million sale of Access Self Storage by Michael A. Mele & Scott Rutherford, an Investment Associate at the Mele Storage Group.
Although Mele has a strong practice in Florida, his group has also had considerable success working with property owners in New Jersey, Virginia, Maryland, New York, California, Texas, Massachusetts, Pennsylvania, Tennessee and Connecticut. Mele works with Marcus & Millichap brokers in other states to ensure his selling clients have maximum exposure to buyers and to ensure that his investing clients have maximum exposure to sellers.
"We are proud to hit the $300 million mark in self-storage facility sales by serving as a trusted resource to our clients. We are not interested in brokering deals for the sake of brokering deals," Mele says. "We are interested in building long-term relationships with our clients. We do that by getting actively involved in every transaction to ensure clients get the greatest value in every deal."
About The Mele Storage Group
Led by East Coast Self Storage Specialist Michael A. Mele, The Mele Storage Group has sold over 70 self-storage properties totaling over $300 million in sales. Mele has over $150 million in Active and Under Contract listings and a database of approximately 5,000 buyers seeking to expand their self-storage portfolios on the East Coast. Mele closed more than $86 million in self-storage sales in 2006 alone. Each member of the group is a specialist in the fields of financial analysis, market research, contract management and marketing.
About Marcus & Millichap
With more than 1,100 investment professionals in offices nationwide, Encino, Calif.-based Marcus & Millichap is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments. In 2006, the firm closed more than $22 billion in transactions. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization; local market expertise; the industry's most comprehensive research and analysis capabilities; state-of-the-art technology; and established relationships with the largest pool of qualified investors nationally.
Self Storage Promotions
1913 S. Ocean Drive, Suite 237
Hallandale Beach, Fla. 33009
Mele Storage Group
7650 Courtney Campbell Cswy., Suite 920
Tampa, FL 33607
813.287.9777, ext. 187