Marcus & Millichap Real Estate Investment Services of Florida, Inc., a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Niceville Loc-N-Stor, a 23,776-square-foot self-storage facility located in Niceville, Florida, according to Grant Fitzgerald, regional manager of the firm’s Columbus office.
Brett R. Hatcher, Gabriel Coe and Nathan Coe, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Ryan Nee, Florida Broker of Record, assisted in closing this transaction. Gabriel Coe, the lead agent, said, “We sold this to a private out-of-state buyer who beat out several competitive offers. The sellers were able to maximize value and the buyers were able to expand on their Florida portfolio and also take advantage of the high occupancy and ability to raise rents at the property.”
Niceville Loc-N-Stor is located in Niceville, Florida, just one mile from Destin-Fort Walton Beach Airport. The facility features 199 climate-controlled units and 24 non-climate-controlled units totaling 23,776 net rentable square feet. They also offer 10 parking spaces available for rent.
About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
