Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 138,000-square foot industrial property located in Williamsport, Pennsylvania, according to Sean Beuche, regional manager of the firm’s Philadelphia office and Pennsylvania broker of record. The asset sold for $3,950,000.
Craig Dunkle and Mher Vartanian, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.The buyer, a limited liability company, was also secured and represented by Dunkle and Vartanian.
“The Williamsport market is proving to be resilient and highly competitive. Our internal market reports highlight these trends, and our team is leading the charge in transactions in this market. With rental rates on the rise and limited inventory, we see this trend prevailing through this next cycle in the CRE market,” said Mher Vartanian, vice president investments.
This property is located at 3231 Lycoming Creek Rd in Williamsport, Pa. This property was originally built in 1973, but had undergone multiple renovations and updates, including a roof resurfacing in 2017. The property also sits in the Williamsport industrial hub with easy access to State Route 15.
About Marcus & Millichap, Inc. (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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
