Hanover Self Storage, a 32,150-square foot self-storage facility located in Hanover 30 miles south of Harrisburg, has been sold.
The sale was announced Monday by Marcus & Millichap Real Estate Investment Services of Seattle, Inc. The company specializes in investment sales, financing, research and advisory services.
Additional terms of sale were not disclosed.
Gabriel Cole, the lead agent involved in the sale, said in a release that the facility was sold as part of a 12-property portfolio to an out-of-state buyer following multiple competing offers.
“The buyer will benefit from strong existing cash flow and the opportunity to raise rents,” Cole said.
Cole, Brett R. Hatcher and Nathan Coe, investment specialists in Marcus & Millichap’s Columbus, Ohio office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Pennsylvania Broker of Record Sean Beuche assisted in closing the transaction.
Situated on approximately 2.11 acres, Hanover Self Storage features 92 climate controlled, 138 drive-up, and 38 interior self-storage units that comprise 32,150 net rentable square feet, along with 10 outdoor parking spaces.