Matthews has completed the sale of a self-storage facility at 3490 W College Ave in State College, Pennsylvania, representing the latest activity in the region’s self-storage investment market. The commercial real estate investment services and technology firm worked on behalf of the seller to transfer the newly built asset to U-Haul.
The facility, known as State College Storage, is a newly constructed self-storage property offering 58,800 square feet of net rentable space. The project includes 513 units configured with a mix of climate-controlled and drive-up options, positioning it to address a range of storage needs within the surrounding community.
Matthews professionals Austin McLeod and Jack Connelly represented the seller in the transaction. According to the firm, this disposition marks Matthews’ largest self-storage deal completed in Pennsylvania, underscoring the scale of the asset within the company’s state-level track record in the sector.
The property is located less than four miles from Penn State University, placing it in proximity to a large student population as well as nearby residential neighborhoods. This location is described as strategic for capturing storage demand generated by both university-related activity and the broader local community.
The seller is identified as a private developer, which previously brought the property to market in 2025 before completing this sale to U-Haul. The transaction advances U-Haul’s objective of establishing a presence in the State College market as part of its broader self-storage footprint across North America. The company owns and manages more than 2,100 self-storage facilities across the continent.
Connelly noted that the deal required a high degree of collaboration and diligence from both the buyer and the seller to reach a smooth closing. While financial terms of the transaction were not disclosed, the sale highlights ongoing investor interest in modern, institutionally sized self-storage assets that are positioned near major universities and established residential bases.
