REBusinessOnline

LOWE'S SELLS FOR $17.55 MILLION

SHIPPENSBURG, PA. — Marcus & Milllichap has completed the sale of a Lowe's Home Improvement Warehouse in Shippensburg for $17.55 million. The 171,069-square-foot store is located on 30 acres at 250 S. Conestoga Drive. It was built in 2008, at which time Lowe's signed a 22-year, triple-net lease for the property. The undisclosed buyer assumed a 22-year, self-amortizing loan at 7.2 percent with 20 percent down. Chris Rea, a vice president of investments with Marcus & Millichap, and Brian Munn of the firm's Atlanta office represented the seller. Jason Cropper of Marcus & Millichap's Little Rock, Ark., office represented the buyer. Spencer Yablon of Marcus & Millichap's Philadelphia office provided local representation.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties