V.P. Matt Wolf & President Robert Holland Arrange Exclusive Sale of 72 Units
Woodbridge, N.J., May 5, 2021 – The Kislak Company, Inc. announced the recent sale of The Villas at Willow Run, a 72-unit multifamily property on Millwood Road, in Willow Street, central Lancaster County, Pennsylvania, for $17,000,000.
Kislak marketed the property on an exclusive basis with Vice President Matt Wolf and President Robert Holland handling the assignment, and they also procured the purchaser. Both parties were not disclosed.
Mr. Wolf commented: “This is a new record for price per unit for all of central Pennsylvania – a rare opportunity to purchase a trophy asset in Lancaster County. We generated a significant amount of offers for this property.”
The Villas at Willow Run is the newest townhome community in Willow Street, constructed 2019 and consisting of 12 buildings, each with six units for a total of 72 attached residences. The buildings include two- and three-bedroom townhouses with three floor plans and units ranging in size from 1,400 to 1,500 square feet with two full bathrooms.
At the time of closing, the property was 100% occupied with a waiting list.
All units have an island kitchen fully equipped with granite countertops, electric range, microwave, refrigerator, and dishwasher. Walk-in closets, vaulted ceilings and exterior patios add to the spaciousness of the units while other attractive features include air-conditioning, living room fireplaces, and individual washers and dryers.
Minutes from Millersville and downtown Lancaster, the property is part of the Penn Manor School District and is convenient to local shopping, dining, and recreation. In the early twentieth century, the main thoroughfare of the town was lined with willow trees on both sides for the length of the town – hence, the town’s name Willow Street — yet only a few of the original trees remain today due to modernization. Home to the oldest homestead in Lancaster County, Hans Herr House – now a museum – and also home to where the first long rifle was made at Martin Meylin Gunshop, the town is in close proximity to Routes 741, 272, and 222.
Matt Wolf joined Kislak in 2017 following over a decade of success in the commercial real estate industry focused on multifamily and other investment sales transactions in central and eastern Pennsylvania. In 2020, he earned the firm’s Jay I. Kislak Producer of the Year award after selling over 1,100 residential units valued at nearly $100 million. Mr. Wolf is a Certified Commercial Investment Member and also holds a Pennsylvania broker’s license.
Robert Holland joined Kislak in 1984, is one of the firm’s all-time leading sales producers and became President in 2012. In addition to overseeing the company and managing a team of salespeople, he specializes in the sale of multifamily and other investment properties.