THE DOUGHERTY TEAM AT MARCUS & MILLICHAP ARRANGES THE SALE OF SUSQUEHANNA OMS NET-LEASED PROPERTY

PHILADELPHIA, PA, May 3rd, 2022 – 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 Susquehanna OMS, a 5,500-square-foot Net-Leased property located at 2990 Eastern Boulevard, East York, PA 17402, according to Sean Beuche, regional manager of the firm’s Philadelphia office. The asset sold for $3,183,909.

Derrick Dougherty and Steve Garthwaite, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, the original developer and practice operator of the site. “The seller decided to ultimately sell this property after a few years of operation in order to monetize his real estate portfolio,” said Steve Garthwaite.

“This property was built-to-suit in 2018 with irreplaceable positioning adjacent to multiple large educational facilities. The subject site is also down the street from the major shopping centers in York, York Mall and York Marketplace,” said Steve Garthwaite. This Net-Leased property is completely Triple Net with a corporate guarantee and ten years remaining at the time of sale. In addition, the lease includes attractive rental increases of 2.5% in Year 3 and 3% in Year 5 of the base term.

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.