PRESS RELEASE: York, PA – May 9, 2019
Locally owned and operated Investment Real Estate, LLC (IRE) announces the sale of Midway Storage to a private investor. The property has two locations; one located at 2246 Susquehanna Street and one at 2610 Brookwood Street in the city of Harrisburg, PA, which is in Dauphin County.
The properties are comprised of seven total buildings. The location on Brookwood Street was renovated in 2004 and features perimeter fencing and an electronic keypad operated gate. The facilities consist of more than 95 storage units combined, which are exterior access drive up spaces. Midway Storage features office hours by appointment only and has been operated remotely. The property offers significant management upside opportunities.
Midway Storage is located near dense residential housing in the Harrisburg market. Occupancy was below 50% at the time of sale. The facility on Susquehanna Street is less than a quarter acre and the facility on Brookwood Street is just over three quarters of an acre on Business Local zoned land.
Yevgeni Kaniayev, Brokerage Advisor for Investment Real Estate, says, “The sale of the Midway Storage properties definitely had some challenges that arose over the course of the settlement process. Thankfully, both the buyer and seller were motivated to get to the settlement table. And with the transactional expertise of the IRE Brokerage team, we we’re able to successfully navigate each hurdle. I was happy to play a significant part in getting this sale completed for both parties.”
For more information, contact Jess Dubbs, Director of Marketing.