6C — May 12 - 25, 2017 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
P ennsylvania
Hatcher and Coe had the listing to market the property on behalf of the seller Marcus &Millichap arranges the sale of a 34,000 nrsf (252 units) self storage in Bridgeville, PA
RIDGEVILLE, PA — Marcus & Millichap, one of the leading com- mercial real estate investment services firms with offices throughout the United States and Canada, announced the sale of Bursca Self Storage, a 34,000 net rentable s/f self- storage facility located in Brid- geville, according to Michael Glass , regional manager of the firm’s Columbus office. The asset sold for $1.12 million. Brett Hatcher and Ga- briel Coe , investment special- ists in Marcus & Millichap’s Columbus office, had the list- B
ing to market the property on behalf of the seller, a limited liability company. Brenton Baskin , broker of record as- sisted in this transaction. The buyer was a local com- pany represented by a local broker. Hatcher commented “The Pittsburgh MSA is really hot right now and doesn’t see many self storage properties hit the market and that is why this property closed in less than two months.” Bursca Self Storage is lo- cated at 100 Bursca Drive in Bridgeville. This facility was built in 1985, has a physical
occupancy of 90 percent, and has a total of 252 units at 34,000 s/f. n The Wharton School creates opportunities in Global RE education Philadelphia, PA — The Wharton School of the University of Pennsylvania announced the establishment of the Grayken Program in International Real Estate , a major new asset to the School’s Samuel Zell and Robert Lu- rie Real Estate Center and Real Estate Department. With his leadership gift, which will fund the new pro- gram, John P. Grayken, C’78, will significantly enhance the global real estate offerings and impact of the Wharton School. The comprehensive Grayken Program in International Real Estate will fund academic pro- gramming for students; indus- try events and outreach; and faculty research. Grayken’s support enriches Wharton’s entire real estate community, first by nurturing students who will go on to innovate and effect change in real es- tate globally. It will also ex- pand Wharton’s real estate program’s reach, enabling connections with leading in- vestors around the world that will complement its domestic network. Last, the program enhances Wharton faculty’s ability to conduct and publish influential international real estate research, as well as interact with leading industry professionals. “We’re honored by John’s partnership with and generos- ity to Wharton,” said Dean and reliance professor of manage- ment and private enterprise Geoffrey Garrett . “He is helping us expand the depth and reach of our program- ming in global real estate – from students who aspire to become real estate leaders, to alumni and executives around the world driving and defin- ing the industry, to faculty whose research is shaping how academics and professionals understand one of the world’s most important industries.” John P. Grayken is found- er and chairman of Lone Star Funds , a prominent private equity firm that invests global- ly in real estate, equity, credit and other financial assets. n
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