Senior Advisor locates prime Clearwater facility with nearly 74K square feet
Sarasota, Fla. (June 24, 2021) – Mike Migone, CCIM of SVN Commercial Advisory Group managed a $6.5 million property deal in Clearwater, Fla., for a client who will convert it into a spacious self-storage facility. The four-acre industrial property is at 1016 N. Belcher Road, a thoroughfare that provides convenient access to the Hercules Industrial area and the Clearwater Airpark.
Mike Migone, CCIM, Senior Advisor, represented property buyer HPI Self Storage in the transaction. A division of Horne Development Group in Houston, the company is continuing to seek out properties in Florida to expand its operations.
The onsite building contains nearly 74,000 square feet, a combination of warehouse and office space. The seller, HB Sealing Products, Inc., had been occupying the concrete structure erected in 1999.
The property is also accessible from Palmetto Street, another major roadway in Clearwater.
“This is a perfect location for self-storage units,” Migone said. “When I found this property, I knew right away it was a natural fit for them: centrally located, with lots of homes nearby. That’s what made it so attractive. Also, there’s very limited competition in the area for their business.”
The warehouse contains more than 49,000 square feet and has a ceiling height of 24 feet. Migone said the buyer plans to convert the warehouse into a two-floor facility to maximize space for storage units. The new owner will also turn the existing office space into more units.
“It’s nice because the buyer won’t have to build a new facility from the ground up,” Migone said. “The entire building is air-conditioned and the zoning already permits self-storage. It’s just an ideal property for them.”
SVN Commercial Advisory Group is a full-service commercial real estate brokerage that serves the greater Sarasota, Manatee, and Charlotte counties.
A full-service commercial real estate brokerage firm, SVN Commercial Advisory Group works with large corporations, middle-market businesses and individual entrepreneurial investors. The group provides advisory services for the sale, leasing and management of commercial properties. Advisors at SVN Commercial Advisory Group have deep experience working with many types of investment real estate. They serve the greater areas of Sarasota, Manatee and Charlotte counties. For more information on the SVN Commercial Advisory Group, visit suncoastsvn.com.