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Cushman & Wakefield Arranges $5.25M Sale of Stop & Shop Portfolio

5/28/2020
Cushman & Wakefield has arranged the $5.25 million sale of three Stop & Store self-storage facilities located in Dillsburg, York and Dover, Pennsylvania. 

Stop and store york

Mike Mele, Robert Bloch and Noah Obuchowski of Cushman & Wakefield’s Self-Storage Advisory Group represented the seller, an individual private owner, in the transaction.

Ideal Property Group acquired the properties, which combined total a total of 94,976 net-rentable square feet and are 75.6% physical occupancy. The opportunity offered the potential for a new investor to improve the facilities by bringing in an onsite management team, divergent to the previous owners off-site management structure.

“While the effects of the current economic environment have slowed institutional deals, private client deals are still closing,” Mele said. “Now more than ever private clients are seeking the stability and security of the self-storage sector."

“In these challenging times Cushman & Wakefield made the sales process smooth by being responsive and easily available, which enabled us to keep the deal on track,” said Jason Gherghel, Managing Principal of Ideal Property Group.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Media Contact

Savannah Durban Atlanta Communications
Savannah Durban

Senior Communications Specialist, South Region • Atlanta

Ms. Durban leads public relations for Cushman & Wakefield's Southeast region, including Atlanta, Charlotte, Raleigh-Durham, Nashville and Birmingham. She oversees media relations, thought leadership initiatives, writes and manages blogs and social media, and assists with content creation such as infographics and videos.