CBRE BROKERS $20.75 MILLION OFFICE SALE/LEASEBACK

NEWARK, DEL. — Nationwide Finance Network has completed the sale and partial leaseback of its approximately 160,000-square-foot corporate offices, located at 300 Continental Dr. in Newark, for $20.75 million. The three-story, Class A building is situated on 22 acres. It features a data center on the second floor, 720 parking spaces and expansion capability. The buyer, Sallie Mae, plans to open a new credit operations center at the site. The company subsequently leased 72,000 square feet to Nationwide Financial Network for a 1-year term. Daniel Reeder and John Kaczowka of CB Richard Ellis’ Greater Philadelphia/Wilmington, Del., office, along with Terry Matthews of the Columbus, Ohio, office of CB Richard Ellis, represented the seller.