V.P. Matt Wolf Orchestrates Sales of 96 Units
Woodbridge, N.J., December 19, 2019 – The Kislak Company, Inc. announced the recent sale of Meadowbrook Lane Apartments, a multifamily complex with 96 units located at 881 Meadowbrook Lane, Chambersburg, for $5,700,000.
Vice president Matt Wolf arranged the sale and remarked: “This was an excellent opportunity for the purchaser to acquire a value-add property and enter a new market. The purchaser plans to complete renovations on units as they turn over.”
Built in 1987, and situated on 4.25 acres of land, the complex consists of 96 one-bedroom units in two-story row apartments. Each unit is outfitted with a washer and dryer, individual entrances and a balcony or patio with one parking space each directly in front along tree and shrub-lined curbs.
The apartments are in a prime location just off of Wayne Avenue along Lincoln Highway/Route 30, within walking distance of grocery and retail stores and a wide array of eateries. The county seat, Chambersburg is midway on Route 30 between Pittsburgh and Philadelphia in one of the fastest-growing counties in Pennsylvania – host to abundant recreational and cultural opportunities and boasting historic significance as the only northern city to be burned to the ground during the Civil War with the Underground Railroad harbored in its neighboring hills and mountains.
With a centralized location in south central Pennsylvania in the Cumberland Valley region, Chambersburg is surrounded by large Amish and Mennonite farm communities. While the cost of living is low in the region, the economy is mainly agriculturally-based with manufacturing being the largest sector in payroll. Chambersburg’s location on Interstate 81 within 100 miles of both Washington, D.C. and Baltimore, MD., encourages trucking and distribution businesses.
Major employers in and near the town include Summit Health Services/Chambersburg Hospital, Chambersburg Area School District, Franklin County government, Ventura Foods, Wilson College and Letter Kenny Army Depot and Camp David nearby.
Mr. Wolf joined Kislak in 2017, following over a decade of success in the CRE industry focused on multifamily and other investment sales transactions in central and eastern Pennsylvania. He is a Certified Commercial Investment Member (CCIM) and also holds a Pennsylvania broker’s license.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s 30 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.
Now in its 113th year, Kislak was among a select group of firms recognized as a 2018 Power Broker by CoStar Group, Inc. and this was the firm’s thirteenth consecutive recognition.