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.