MARCUS & MILLICHAP BROKERS $1.19 MILLION PA. TOWNHOME SALE

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LANCASTER, PA. — Marcus & Millichap has brokered a $1.19 million multifamily sale in Lancaster. Pennwick Village Townhomes is a 14-unit rental community located at 2010-2014 Pennwick Road. All but one of the townhomes were occupied at the time of closing. Zachary Pierce and Kenn Wellar of Marcus & Millichap's Philadelphia office and Steve Laurenson of the firm's Reston, Va., office represented the seller, a private investor. Pierce and Wellar secured the buyer, a limited liability company. The property traded at a 6.89 percent capitalization rate.

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