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Marcus & Millichap arranges the sale of a 38,550 s/f self-storage facility in Brodheadsville

  • Writer: MAREJ
    MAREJ
  • Jun 28, 2021
  • 2 min read

BRODHEADSVILLE, PA — Marcus & Millichap announced the sale of Brodheadsville Self Storage, a 38,550 s/f self-storage facility located in Brodheadsville, according to Grant Fitzgerald, regional manager of the firm’s Columbus office.

Nathan Coe, Brett R. Hatcher, and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus office, had the listing to market the property on behalf of the seller, a limited liability company, and they were also able to secure the buyer in the transaction. Sean Beuche, Pennsylvania Regional Manager and Broker of Record license #RB062197C, assisted in closing this transaction.

“I am very excited for both the sellers and the buyers on Brodheadsville Self Storage,” said Nathan Coe, the lead agent involved in the transaction. “We were able to achieve the listed and targeted sale price and close in a short amount of time. It was one of the smoothest processes all around, and both the buyer and the seller were so great to work with. The buyer is adding a very well-run facility with a lot of upside to his portfolio.”

Brodheadsville Self Storage is located in Brodheadsville, Pennsylvania, about 30 miles north of Allentown, Pennsylvania. This facility features 269 non-climate-controlled units totaling 38,550 net rentable s/f. They also offer 24 parking spaces for rent. The facility was built in 2003 and sits on 4.41 acres of land.

In a separate transaction, Marcus & Millichap announced the sale of 430 Penn Ave., a 38,054 s/f office property located in Scranton, according to Beuche. The asset sold for $2.1 million, or $55.18/SF. The building had an in-place capitalization rate of 6.82% at the time of sale.

First vice president of investments Craig Dunkle and associate Jackson Day, investment specialists in Marcus & Millichap’s Philadelphia office, had the listing to market the property on behalf of the seller, a Philadelphia-based developer. The buyer, a private investor based out of the Brooklyn area, was secured and represented by Dunkle and Day,

The subject property is located at 430 Penn Ave. in Scranton.


 
 
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