{"id":1004134028,"date":"2015-12-21T09:09:38","date_gmt":"2015-12-21T17:09:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004134028"},"modified":"2020-05-11T21:35:33","modified_gmt":"2020-05-12T05:35:33","slug":"self-storage-facility-in-temple-hills-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/self-storage-facility-in-temple-hills-changes-hands\/","title":{"rendered":"Self-Storage Facility in Temple Hills Changes Hands"},"content":{"rendered":"<p><em>By Adriana Pop, Associate Editor <\/em><\/p>\n<p>Temple Hills, Md.\u2013 <a href=\"https:\/\/www.marcusmillichap.com\/\" rel=\"nofollow\" target=\"_blank\">Marcus &amp; Millichap<\/a> has brokered the sale of Budget Self Storage, a 64,440-net-rentable-square-foot self-storage facility located in Temple Hills, Md. Bryn Merrey, regional manager of the firm&#8217;s Washington, D.C. office announced the transaction, which closed for $4.25 million.<\/p>\n<div id=\"attachment_1004134029\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/5061-Beech-Place-in-Temple-Hills-Md..jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004134029\" data-attachment-id=\"1004134029\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/self-storage-facility-in-temple-hills-changes-hands\/5061-beech-place-in-temple-hills-md\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/5061-Beech-Place-in-Temple-Hills-Md..jpg\" data-orig-size=\"899,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"5061 Beech Place in Temple Hills, Md.\" data-image-description=\"&lt;p&gt;5061 Beech Place in Temple Hills, Md.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;5061 Beech Place in Temple Hills, Md.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/5061-Beech-Place-in-Temple-Hills-Md..jpg?w=899\" class=\"wp-image-1004134029 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/5061-Beech-Place-in-Temple-Hills-Md..jpg\" alt=\"5061 Beech Place in Temple Hills, Md.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/5061-Beech-Place-in-Temple-Hills-Md..jpg 899w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/5061-Beech-Place-in-Temple-Hills-Md..jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/5061-Beech-Place-in-Temple-Hills-Md..jpg?resize=768,513 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004134029\" class=\"wp-caption-text\">5061 Beech Place in Temple Hills, Md.<\/p><\/div>\n<p>Robert Bloch, self-storage investment specialist, and Michael Mele, senior vice president of investments, in Marcus &amp; Millichap&#8217;s Washington, D.C. and Tampa offices, respectively, had the exclusive listing to market the property on behalf of the seller, a local real estate investor who has owned the property for nearly 20 years. Bloch and Mele also brought the buyer to the deal, a growing self-storage investor with properties in Maryland and Pennsylvania.<\/p>\n<p>&#8220;Since this was a difficult location on a dead end road, it could have been a challenging deal, but we were able to find a buyer who believes in the strength of the area and has a clear marketing vision to achieve stabilization,&#8221; said Bloch. &#8220;The new owner has a plan to tap into the massive nearby development and growing demographics in order to hit capacity.&#8221;<\/p>\n<p>Located at 5061 Beech Place, Budget Self Storage is just inside the 495 Beltway and a 15-minute drive from the National Harbor. The property is also approximately one mile from the new Town Center at Camp Spring, a mixed-use development consisting of high-density multifamily housing and retail, located at the Camp Springs metro station. The proposed development, Suitland Town Center, a community park with retail and multifamily properties, is less than three miles from the property. Also, the storage facility is approximately four miles from a new development in Suitland at the corner of Marlboro Pike and Brooks Drive.<\/p>\n<p>&#8220;Robert&#8217;s ability to close this potentially difficult deal demonstrates Marcus &amp; Millichap&#8217;s, as well as Robert&#8217;s, success and knowledge of the Mid-Atlantic region,&#8221; added Mele.<\/p>\n<p><em>Image courtesy of Marcus &amp; Millichap<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marcus &#038; Millichap has facilitated the $4.25 million sale of Budget Self-Storage, a 64,440-net-rentable-square-foot facility in Temple Hills, Md. <\/p>\n","protected":false},"author":260,"featured_media":1004134029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21742,1615],"tags":[],"class_list":["post-1004134028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Self-Storage Facility in Temple Hills Changes 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\/self-storage-facility-in-temple-hills-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Self-Storage Facility in Temple Hills Changes Hands\" \/>\n<meta property=\"og:description\" content=\"Marcus &amp; 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