$3.4M Sale of Retail Strip in Harrisburg

HARRISBURG, Penn., Nov. 26th, 2024 – 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 Union Deposit Center, a 3-suite retail strip property located in Harrisburg, Pennsylvania. The property sold for $3,425,000.

 “IHOP, AT&T, and Little Caesar’s performance in the submarket, as evidenced by placer.ai data, reaffirms their unwavering commitment to excellence,” said Nick Geaneotes, Associate. “Further enhancing the property's appeal to potential investors.”

“This center presented investors with an incredible opportunity to acquire a multi-tenant asset,” said Scott Woodard, First Vice President Investments. “With three major tenants and over 20,000 vehicles per day passing the site.”

“This strip center is exceptionally well-positioned as an outparcel to a Lowe’s attracting over 640,000 annual visitors,” said Derrick Dougherty, Senior Vice President Investments. “Ranking it in the top thirty percent of Lowe’s locations in the U.S.”

Derrick Dougherty, Nick Geaneotes and Scott Woodard, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a private investor based in Maryland, and procured the buyer, a private investor based in Philadelphia. Tim Stephenson is Marcus & Millichap’s broker of record in Pennsylvania.

Located at 4002 Union Deposit Road, the 7,578-square-foot property is an outparcel of a heavily trafficked Lowe’s that attracts more than 644,000 visitors annually. The center is fully triple-net leased to national tenants, including AT&T, Little Caesars and IHOP. Built in 2016, the property is situated on 1.2 acres off Interstate 83 in a major retail corridor.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading national 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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.