{"id":1004267540,"date":"2018-09-26T05:21:28","date_gmt":"2018-09-26T13:21:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004267540"},"modified":"2022-12-07T00:07:35","modified_gmt":"2022-12-07T08:07:35","slug":"the-mele-group-brokers-sale-of-phoenix-area-storage-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-mele-group-brokers-sale-of-phoenix-area-storage-facility\/","title":{"rendered":"The Mele Group Brokers Sale of Phoenix-Area Storage Facility"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004267543\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Higley-Self-Storage-of-Broadway.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004267543\" data-attachment-id=\"1004267543\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the-mele-group-brokers-sale-of-phoenix-area-storage-facility\/higley-self-storage-of-broadway\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Higley-Self-Storage-of-Broadway.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" 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;1&quot;}\" data-image-title=\"Higley Self Storage of Broadway\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Higley-Self-Storage-of-Broadway.jpg?w=800\" class=\"wp-image-1004267543 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Higley-Self-Storage-of-Broadway.jpg\" alt=\"Higley Self Storage of Broadway\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Higley-Self-Storage-of-Broadway.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Higley-Self-Storage-of-Broadway.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Higley-Self-Storage-of-Broadway.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004267543\" class=\"wp-caption-text\">Higley Self Storage of Broadway<\/p><\/div>\n<p>The Mele Group of Marcus &amp; Millichap has arranged the sale of Higley Self Storage of Broadway, a 41,175-net-rentable-square-foot, newly constructed facility in Mesa, Ariz. The brokerage team represented the seller and also secured the buyer, both private investors.&nbsp;<\/p>\n<p>Situated at 457 S. Higley Road, the facility is near Freeway 60 and is exposed to nearly 41,000 vehicles per day. Additionally, the area is surrounded by many single-family properties and multifamily communities, including Island Palms, a 200-unit property. The newly developed storage facility comprises 241 climate- and non-climate-controlled units.<\/p>\n<p><em>\u201cWe are seeing a lot in the news about new storage development and oversaturation occurring in different markets. While predatory storage development is taking place and beginning to cause rental rate challenges, there are many areas where new storage is not only well-received, but in high demand,\u201d <\/em>said Luke Elliott, investment specialist at Marcus &amp; Millichap, in prepared remarks.&nbsp;<\/p>\n<p>Elliott, Devin Beasley and Michael Mele in Marcus &amp; Millichap\u2019s Tampa and Phoenix offices were part of the team involved in the sale.&nbsp;This deal marks The Mele Group\u2019s 33<span style=\"font-size: 12.75px;height: 0px;line-height: 0;vertical-align: baseline\">rd<\/span>&nbsp;transaction this year. Earlier this year, the company arranged the sale of More Space, a <a href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-area-storage-facility-sells-for-7m\/\">57,475-square-foot storage facility<\/a> in the same Arizona city.&nbsp;<\/p>\n<p><em>Image courtesy of Marcus &amp; Millichap<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Tampa-based team facilitated the sale of a newly built asset in Mesa, Ariz. The transaction marks the team\u2019s 33rd self-storage deal this year. <\/p>\n","protected":false},"author":871,"featured_media":1004267543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,1601,15],"tags":[32926,34836,32927,36367],"class_list":["post-1004267540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-phoenix","category-west","tag-luke-elliott","tag-marcus-millichap","tag-michael-mele","tag-the-mele-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Mele Group Brokers Sale of Phoenix-Area Storage Facility - 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\/the-mele-group-brokers-sale-of-phoenix-area-storage-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Mele Group Brokers Sale of Phoenix-Area Storage Facility\" \/>\n<meta property=\"og:description\" content=\"The Tampa-based team facilitated the sale of a newly built asset in Mesa, Ariz. The transaction marks the team\u2019s 33rd self-storage deal this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/the-mele-group-brokers-sale-of-phoenix-area-storage-facility\/\" \/>\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=\"2018-09-26T13:21:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T08:07:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Higley-Self-Storage-of-Broadway.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-mele-group-brokers-sale-of-phoenix-area-storage-facility\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-mele-group-brokers-sale-of-phoenix-area-storage-facility\\\/\"},\"author\":{\"name\":\"Evelyn Jozsa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"headline\":\"The Mele Group Brokers Sale of Phoenix-Area Storage Facility\",\"datePublished\":\"2018-09-26T13:21:28+00:00\",\"dateModified\":\"2022-12-07T08:07:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-mele-group-brokers-sale-of-phoenix-area-storage-facility\\\/\"},\"wordCount\":234,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-mele-group-brokers-sale-of-phoenix-area-storage-facility\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/09\\\/Higley-Self-Storage-of-Broadway.jpg\",\"keywords\":[\"Luke Elliott\",\"Marcus &amp; 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