Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Mattress Warehouse, a 5,600-square-foot net-leased property located in York, Pa. The asset sold for $1,400,000.

Derrick Dougherty, first vice president investments, and Steve Garthwaite, associate 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 secured and represented by the pair.

“The seller had developed this project from raw land. The building, constructed of brick was a build to suit for the tenant, Mattress Warehouse,” said Garthwaite. “The buyer was drawn to this property due to the yield and outstanding real estate fundamentals. With rising capitalization rates of some mattress retailers, our team has had continuous success getting these deals done. This asset was positioned favorably with replaceable rents in the submarket.”

The asset is strategically located on a main retail corridor in York County at 2064 S. Queen Street in York, Pa.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.