Lebanon, PA, May 23rd, 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 South Pointe Centre, a 15,275-square-foot property located at 720 Quentin Road, Lebanon, Pennsylvania, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $2,800,000.
Mark Krantz 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 North Carolina based family investor. Colin Reder and Mark Krantz represented the buyer, local brothers who invest in central Pennsylvania shopping centers.
“This center stands as a remarkable cornerstone of the community, seamlessly integrating into the corridor between Cornwall Road and Quentin Road. The rent roll boasts a diverse mix of national, regional, and local tenants,” said Mark Krantz.
“The successful closing of this center shows our team’s effective collaboration to be able to bring a buyer to our own listing, which we have done with 90% of our closings in 2024 so far. I am excited to see how this property is perceived in the future as Lebanon County continues to grow in population,” said Colin Reder.
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.
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