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 a 26,541-square-foot office property located in Camp Hill, Pa. The asset sold for $3,900,000, equating to $147 per square foot.
Craig Dunkle, senior associate in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, 355 N. 21st Camp Hill Associates, who had owned the property since 2003. The New York based buyer, Thank You Hashem, was secured and represented by Dunkle as well.
“This market is very attractive for buyers with limited available inventory,” says Dunkle. “The property was on the market for less than 45 days, during which time we generated more than five offers and seven tours.”
The office building is located at 355 N. 21st Street and Route 15 / Camp Hill Bypass in Camp Hill, Pa. The building was constructed in the 1970's, with the most current major renovation completed in 2007. The 16 current office suites range from 500 square feet to 6,500 square feet and have recently been renovated through new tenant fit-outs. There are approximately 110 exterior parking spaces, and 25 covered interior parking spaces spread across the 1.4 acres the property lies on. The current tenant-mix consists of: medical users, financial planners, law offices, and other professional office users.
