press releases
Marcus & Millichap is arranging the sale of a 26,725 square foot self-storage facility in McKees Rocks, Pennsylvania
January 30, 2023
MCKEES ROCKS, Pa., Jan. 30, 2023 — Marcus & Millichap Real Estate Investment Services of Seattle, Inc. (NYSE: MMI), a leading commercial real estate brokerage firm specializing in asset sales, financing, research and advisory services, today announced the sale of Kennedy Self Storage, a 26,725-square-foot self-storage facility in McKees Rocks, Pa., according to Grant Fitzgerald, regional manager for the company’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 the closing of this transaction.
“This property has been sold to a foreign investor after several bidding processes,” said Gabriel Coe, the lead agent involved, “the buyer will benefit from historically high occupancy and significantly increasing rents, which have been around 30% below market price.”
Kennedy Self Storage is located at 35 Fairhaven Road in McKees Rocks, Pennsylvania. The facility is a cash flow stabilized facility and has 157 non-climate controlled units and three other units totaling 26,725 leasable square feet.
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About Marcus & Millichap (NYSE:MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in the sale, financing, research and advisory services for commercial real estate investments with offices throughout the United States and Canada. As of December 31, 2021, the firm employed 1,994 investment brokerage and financing professionals in 82 offices providing investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also provides market research, consulting and consulting services to clients. Marcus & Millichap closed 13,255 transactions in 2021 with a sales volume of approximately US$84.4 billion. Visit www.MarcusMillichap.com for more information.
Disclaimer
Marcus & Millicap Inc. published this content on January 30, 2023 and is solely responsible for the information contained therein. Distributed by the public, unedited and unmodified, on January 30, 2023 17:23:10 UTC.
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Technical Analysis Trends MARCUS & MILLICHAP, INC.
| In the short term | medium term | long term | |
| tendencies | bullish | Neutral | bearish |
Development of the income statement
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To sell  Buy |
|
| Medium consensus | TO SELL |
| Number of Analysts | 1 |
| Last closing price | $36.70 |
| Average target price | $24.00 |
| Spread / Average Target | -34.6% |