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Marcus & Millichap Arranges the Sale of a 21,731-Square-Foot Self-Storage Facility in Miami Beach, Florida

September 30, 2021

Miami Beach, Florida, September 30, 2021 – Marcus & Millichap Real Estate Investment Services of Florida, Inc. (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a CubeSmart Managed self-storage facility consisting of 21,731 net rentable square feet, according to Grant Fitzgerald, regional manager of the firm’s Columbus office.

Meir Perlmuter, Nathan Coe, Gabriel Coe and Brett R. Hatcher, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller. Ryan Nee, Florida Broker of Record, assisted in closing this transaction. Meir Perlmuter, the lead agent on the transaction, said, “This was a tremendous facility with a great location that sold to an out-of-state buyer who is adding a great asset to their portfolio.”

The buyer was Baranof Holdings, a national self-storage developer and investor. James Denissen, Baranof Holdings’ Vice President of Acquisitions said, “We are thrilled to acquire the self-storage facility in Miami Beach; it represents a truly unique opportunity to purchase an asset with an irreplaceable location, high barriers to entry in a dynamic and growing community.”

The CubeSmart managed facility is located in downtown Miami Beach, Florida. The facility features 786 climate-controlled units and 135 wine storage units, totaling 21,731 net rentable square feet. This facility is in a high barrier to entry market and benefits from a lot of new construction nearby.

 

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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