Matthews™ Closes $16.8M Sale of 717-Unit Tampa Life Storage Facility

Self-Storage Property in Growing Market Spans Over 65,000 Square Feet

Tampa, FL — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $16,800,000 acquisition of a 717-unit Life Storage facility at 2119 West Hillsborough Avenue, Tampa, FL. Associate Vice President Shane Avera, Market Leader Maxx Bauman, and Managing Director Bill Pedersen managed the buyer in the transaction.

 

The property, spanning 65,939 net rentable square feet, was sold off-market by a storage developer based in Florida. The buyer, a California-based investor group, acquired the asset in a 1031 exchange.

 

“We are happy to complete another great deal with our clients,” Avera said. “Their goal was to sell out of California and purchase a newly built, Class A, third-party managed facility in an income tax-free state all while increasing their cash flow. With Matthews’ shared database, we were able to find the perfect deal for them in Tampa.”

 

Life Storage is one of the largest self-storage real estate investment trusts in the U.S. with over 1,100 facilities in 37 states. The Hillsborough property was built in 2021 with five buildings across 1.73 acres.

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 500 agents and support staff in 15+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.