Marcus & Millichap Inc.
01/30/2023 | Press release | Distributed by Public on 01/30/2023 11:15
Marcus & Millichap Arranges the Sale of a 26,725-Square-Foot Self-Storage Facility in McKees Rocks, Pennsylvania
Press Releases
Marcus & Millichap Arranges the Sale of a 26,725-Square-Foot Self-Storage Facility in McKees Rocks, Pennsylvania
January 30, 2023
MCKEES ROCKS, Pennsylvania, January 30, 2023 - Marcus & Millichap Real Estate Investment Services of Seattle, Inc.(NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Kennedy Self Storage, a 26,725-square-foot self-storage facility located in McKees Rocks, Pennsylvania, according to Grant Fitzgerald, regional manager of the firm's Columbus office.
Gabriel Coe, Brett R. Hatcher, and Nathan Coe, investment specialists in Marcus & Millichap's Columbus office, had the exclusive listing to market the property on behalf of the seller, a partnership. Sean Beuche, Pennsylvania Broker of Record, assisted in closing this transaction.
"This property was sold to an out-of-state investor after multiple competitive bids," said Gabriel Coe, the lead agent involved, "The buyer will benefit from the historically high occupancy and the significantly increasing rents which were approximately 30% below market."
Kennedy Self Storage is located at 35 Fairhaven Road in McKees Rocks, Pennsylvania. The facility is a stabilized and cash flowing facility that features 157 non-climate-controlled units and three other units totaling at 26,725 net rentable square feet.
Gabriel Coe, Brett R. Hatcher, and Nathan Coe, investment specialists in Marcus & Millichap's Columbus office, had the exclusive listing to market the property on behalf of the seller, a partnership. Sean Beuche, Pennsylvania Broker of Record, assisted in closing this transaction.
"This property was sold to an out-of-state investor after multiple competitive bids," said Gabriel Coe, the lead agent involved, "The buyer will benefit from the historically high occupancy and the significantly increasing rents which were approximately 30% below market."
Kennedy Self Storage is located at 35 Fairhaven Road in McKees Rocks, Pennsylvania. The facility is a stabilized and cash flowing facility that features 157 non-climate-controlled units and three other units totaling at 26,725 net rentable square feet.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.