Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Hagy Way Industrial Building, a 59,050-square foot industrial property located in Harrisburg, PA, according to Sean Beuche, broker of record for PA and regional manager of the firm’s Philadelphia office. The asset sold for $4,130,000.
Craig Dunkle, an investment specialist of The Dunkle Group of Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller. The buyer, a limited liability company, was also secured and represented by Craig Dunkle. “Our buyer quickly realized the value proposition for this asset, and we moved through the contract to close process with little to no issues. It was true pleasure working directly with both the Buyer and Seller on this transaction.”
Hagy Way Industrial Building, located at 1400 Hagy Way in Harrisburg, PA, is a temperature control warehouse with 10 loading docks, 4 drive in bays, and a clearing height of 22 feet. The building is currently 100% occupied by Capital Presort, a mail presorts bureau servicing the Northeastern United States, and The Hershey Creamery Company, who utilizes the space as a distribution hub for their famous ice cream products. “The property was ideally located for logistics, transportation, and distribution warehousing due to its proximity to I-81 and I-83. Due to this and other factors, both tenants recently extended their leases prior to bring the property to market” says Dunkle. The combination of the property’s ideal location and long-term lease tenants will make this a solid long-term investment for years to come.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 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.
