Press Releases
Marcus & Millichap Announces Sale of 265-Unit Self Storage Property in Somerset, Pennsylvania
February 24, 2025
SOMERSET, Penn., Feb. 24, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Edgewood Grove Storage, a 265-unit self-storage property located in Somerset, Pennsylvania. The property was listed for $4 million.
“This was a smooth transaction from start to finish, and both the seller and buyer were a pleasure to work with,” said Jared Houck, associate. “We had the privilege of representing the sellers in this deal, who have poured their heart and soul into this property for more than 20 years. It’s been an honor to support them throughout this process, and I’m thrilled they can now enjoy their well-earned retirement. I’m also excited to see the site transition to a group I know will continue to care for the property and its tenants with the same dedication.”
Houck, Kevin Bledsoe and Matthew Junkin, investment specialists in Marcus & Millichap’s King of Prussia office, had the exclusive listing to market the property on behalf of the seller, who was the original owner of the facility, established in 1997, and procured the buyer, an out of state investor. Tim Stephenson is Marcus & Millichap’s broker of record in Pennsylvania.
Edgewood Grove Storage spans 2 acres at 298 North Drive, about 60 miles east of Pittsburgh. Built in phases, with the first phase completed in 1997, the property includes 35,100 square feet of drive-up self-storage and 12 multifamily units, comprising seven houses and an apartment building.
“This was a smooth transaction from start to finish, and both the seller and buyer were a pleasure to work with,” said Jared Houck, associate. “We had the privilege of representing the sellers in this deal, who have poured their heart and soul into this property for more than 20 years. It’s been an honor to support them throughout this process, and I’m thrilled they can now enjoy their well-earned retirement. I’m also excited to see the site transition to a group I know will continue to care for the property and its tenants with the same dedication.”
Houck, Kevin Bledsoe and Matthew Junkin, investment specialists in Marcus & Millichap’s King of Prussia office, had the exclusive listing to market the property on behalf of the seller, who was the original owner of the facility, established in 1997, and procured the buyer, an out of state investor. Tim Stephenson is Marcus & Millichap’s broker of record in Pennsylvania.
Edgewood Grove Storage spans 2 acres at 298 North Drive, about 60 miles east of Pittsburgh. Built in phases, with the first phase completed in 1997, the property includes 35,100 square feet of drive-up self-storage and 12 multifamily units, comprising seven houses and an apartment building.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
