Did you know – June 2017…

  • As of the 1st Quarter 2017 CoStar reports Delaware’s retail inventory of almost 30 million square feet operating at a 5.5 percent vacancy rate; this is slightly higher than their reported national retail vacancy rate of 4.8 percent.
  • Hunters Crossing Apartments in Newark, Delaware sold on June 1, 2017 for $52.5 million, or $77,206 per unit for its 680 apartment units.  The seller was Altman Management Company and the buyer was AION Partners out of New York.
  • The 240,780 rentable square foot, 14-story, office building at 802 Delaware Avenue in Wilmington sold on May 24, 2017 for $34 million, or $141 per square foot.
  • A large 10.21 acre commercial tract on Coastal Highway in Rehoboth Beach sold in May 2017.  This parcel was home to Tomato Junction retail produce stand located next to the Tangier Outlets.  It sold for $13.5 million.
  • The Walgreens at 5999 Summit Bridge Road, Townsend, Delaware – is a 9,999 square foot, double net leased property that sold on May 25, 2017 for $4.2 million, or a 6.2 percent going-in capitalization rate.
  • The Walgreens at 28517 DuPont Boulevard, Millsboro, Delaware – is a 12,000 square foot, double net leased property that sold in May 2017 for $3.65 million, or a 6.6 percent going-in capitalization rate.
  • Lidl Grocery – purchased 4.2 acres of land to construct a 36,186 grocery store at 622 E. Pulaski Highway, Elkton, Maryland for $1.55 million on May 5, 2017.
  • 913 N. Market Street, Wilmington, Delaware – is a 12-story, office building in the CBD that settled June 19, 2017 for $1,102,500, equivalent to $13.50 per square foot.