{"id":1004131654,"date":"2015-11-16T12:22:10","date_gmt":"2015-11-16T20:22:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004131654"},"modified":"2020-04-05T23:53:35","modified_gmt":"2020-04-06T07:53:35","slug":"cocoa-beach-self-storage-asset-switches-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cocoa-beach-self-storage-asset-switches-hands\/","title":{"rendered":"Cocoa Beach Self-Storage Asset Switches Hands"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

Marcus & Millichap<\/a> has secured the sale of Cocoa Beach Self Storage, a 28,730-square-foot self-storage facility located in Cocoa Beach, Fla.<\/p>\n

\"Michael<\/a>

Michael Mele, Marcus & Millichap’s Senior Vice President Investments and Senior Director of the firm’s National Self-Storage Group<\/p><\/div>\n

Luke Elliott, associate in Marcus & Millichap’s Tampa office, and Michael Mele, senior vice president investments in the Tampa office and senior director of the firm’s National Self-Storage Group, had the exclusive listing to market the property on behalf of the seller, a financial institution.\u00a0Luke Elliott and Michael Mele also secured and represented the buyer, a private investor.<\/p>\n

Built in 2009, Cocoa Beach Self Storage is located at 14 South 20th St. and offers 318 storage units inside one large, three-story building.<\/p>\n

With 5,000 square feet of solar paneling, the property ranks as one of the greenest self-storage facilities in Florida. Cocoa Beach Self Storage also has dominant market share in the area and experiences little to no competition from nearby facilities.<\/p>\n

A popular tourist destination with 2.4 million visitors per year, Cocoa Beach is a traditionally white-collar area with an average household income of $84,890 within a five mile radius.<\/p>\n

“This was a Class A facility that was less than 30,000 square feet in a high barrier to entry, but tertiary market.” Elliott said in prepared remarks. “Overwhelmingly the market spoke and we found a buyer for whom this facility worked well for. It will be a great addition to their portfolio.”<\/p>\n

Image courtesy of Marcus & Millichap<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Marcus & Millichap brokers sale of an approximately 29,000-square foot self-storage facility located in Cocoa Beach, Fla.<\/p>\n","protected":false},"author":260,"featured_media":1004131660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,1493],"tags":[],"class_list":["post-1004131654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-orlando"],"acf":[],"yoast_head":"\nCocoa Beach Self-Storage Asset Switches Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cocoa-beach-self-storage-asset-switches-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cocoa Beach Self-Storage Asset Switches Hands\" \/>\n<meta property=\"og:description\" content=\"Marcus & Millichap brokers sale of an approximately 29,000-square foot self-storage facility located in Cocoa Beach, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cocoa-beach-self-storage-asset-switches-hands\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-16T20:22:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-06T07:53:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/11\/Michael-Mele-Senior-Vice-President-Investments-for-Marcus-Millichap-and-Senior-Director-of-the-firms-National-Self-Storage-Group.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"259\" \/>\n\t<meta property=\"og:image:height\" content=\"325\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cocoa-beach-self-storage-asset-switches-hands\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cocoa-beach-self-storage-asset-switches-hands\/\",\"name\":\"Cocoa Beach Self-Storage Asset Switches Hands - 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