PHOENIXVILLE, PA — Marcus & Millichap (NYSE: MMI) brokered the sale of Valley Forge Self Storage in Phoenixville to Manas Equities, transferring a 415-unit facility on 7.8 acres in the Chester County borough.
Andreas Makris and Kevin Bledsoe of Marcus & Millichap’s Philadelphia office exclusively marketed the property for the seller and procured Manas Equities as the buyer.
Valley Forge Self Storage, at 30 S. 2nd Ave., was built in 2005 and contains 34,972 rentable square feet. The facility includes 24 open-warehouse units, 137 climate-controlled units, 179 drive-up units and 72 covered parking spaces, according to Marcus & Millichap.
Makris characterized the transaction as bringing together a longtime seller and repeat buyer, citing what he described as “tremendous upside” at the property.
“We brought a long-time seller and a repeat buyer together over a property with tremendous upside,” Makris stated. “Through strong communication and teamwork, we found a win-win outcome, despite facing unexpected obstacles, and got the deal across the finish line.”
The property is in a residential area near Route 23, the Schuylkill River and Valley Forge National Historical Park. Phoenixville is in Chester County, northwest of King of Prussia.
Financial terms of the transaction were not disclosed.
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