Matthews™ Facilitates Sale of State College Storage in Pennsylvania

PHILADELPHIA, PA— Matthews™, a commercial real estate investment services and technology firm, completed the sale of a self-storage facility, located at 3490 W College Ave in State College, PA. Matthews™ Associate Jack Connelly and Senior Vice President and Director Austin McLeod represented the seller in the transaction, marking Matthews™ largest self-storage transaction in Pennsylvania.

State College Storage is a newly constructed, 58,800-square-foot net rentable self-storage facility comprising 513 climate-controlled and drive-up units, situated along West College Avenue in State College, Pennsylvania. Located less than four miles from Penn State University, the property is strategically positioned to serve robust demand from the local student body and residential community. The property received its Certificate of Occupancy in Q4 2024 and was in the early stages of lease-up at the time of sale.

The seller, a private developer, had previously brought the property to market in 2025. After the Matthews™ agents identified the opportunity, they moved quickly to identify a buyer and deliver an offer above the seller’s expectations before the seller could pursue a joint venture with a local storage group. The buyer, U-Haul, which owns and manages more than 2,100 self-storage facilities across North America, was looking to advance its longstanding goal of establishing a presence in the State College market.

“This transaction required a high level of collaboration and diligence from both the buyer and seller to bring it across the finish line smoothly, ” McLeod said. “The self-storage sector remains highly competitive, and this closing underscores our commitment to delivering exceptional results and maximizing value for our clients.”

For more information, please contact Jack Connelly and Austin McLeod or visit www.matthews.com.

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.