TAMPA, FL—The appetite for self-storage is strong but the available properties are fewer and further between this year. Still, Marcus & Millichap's Mele Group is getting some smaller deals done.

Embassy One U-Store, a 52,741-rentable-square-foot self-storage facility in Port Richey, FL, just traded for $2.6 million. And Oxford Storage, a 46,750-rentable-square foot self-storage facility located in Fern Park, FL, traded for $2.2 million.

Michael A. Mele, a first vice president investments in Marcus & Millichap's Tampa office, marketed the properties on behalf of the local sellers. Mele also procured and represented the buyers.

“We brought a credible regional buyer to an asset that was outside the vision of the REITs and other national self-storage operators,” Mele says of the Embassy One U-Store deal. The facility is located at 6647 Embassy Boulevard in Port Richey.

Oxford Storage was constructed in 1999 and sits on 4.06 acres of land. Located at 230 Oxford Road, the property is comprised of 420 storage units, 169 of which are climate-controlled, 218 are non-climate controlled and 33 are parking spaces. The sizes of the storage units range from 25 to 400 square feet. Amenities include electronic gate access, truck rental, and moving supplies.

“This is a definite 'add value' play for the buyers,” Mele says. “They will benefit significantly once their management takes over making this a very nice deal for them.”