Closed: UPMC in Hanover, PA for $2.2M

Hanover, PA, December 18th, 2025 – 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 UPMC, a 9,194-square-foot property located at 20 North Street, Hanover, PA, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $2,242,093.

Derrick Dougherty and Nick Geaneotes, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a local private investor. The team also represented the buyer, a private investor based in Maryland, in the transaction. 

“UPMC’s long operating history at the site, recent lease extension, and proximity to its Hanover Hospital made this an especially compelling investment backed by institutional-grade credit. The transaction was marked by strong cooperation from all parties, which allowed us to successfully bring the deal to a close before year-end 2025,” said Derrick Dougherty, Senior Managing Director Investments.

“UPMC’s commitment to the location and the asset’s fundamentals made this a standout opportunity in the market. The professionalism of the buyer and seller throughout the process played a key role in achieving a smooth and timely closing,” said Nick Geaneotes, Associate Director Investments.

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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. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.