SunTrust Banks, Inc. sold the bank-owned US 41 Self Storage facility at 14150 N. Cleveland Ave. in North Fort Myers, FL to Hanover Holdings, Ltd. for $3.2 million, or about $42 per square foot.
The two-story, 76,903-square-foot storage facility totals 438 units of varying size, including 219 climate-controlled units. It was built in 2006 on nine acres in Lee County. The facility was foreclosed on by SunTrust Bank back in July 2012.
Michael Mele of Marcus & Millichap brokered the deal for the seller.
For additional details on this transaction, refer to CoStar COMPS #2569064.