WILMINGTON, DEL. — Herbein + Co. Inc. has opened a 14,000-square-foot office in Wilmington. The accounting firm relocated and expanded from a 6,000-square-foot space to Wells Fargo Tower, which according to LoopNet Inc. is a 15-story building that was originally constructed in 1980 and renovated in 2002. The new office is open as of July 21. No third-party brokers were named as being involved in the lease negotiations.
NEWARK, DEL. — Chicago-based Logistics Property Co. will develop Crossroads 95 Logistics Center, a 442,350-square-foot industrial project in Newark. The 43-acre site offers proximity to the Delaware Memorial Bridge and the Port of Wilmington, as well as 1,000 feet of frontage along I-95, and the building will feature a clear height of 36 feet and ample car and trailer parking. Construction is scheduled to begin in the coming weeks and to be complete in the third quarter of 2026. John Plower, Ryan Cottone, Zach Maguire and Jordan Schwartz of JLL brokered the sale of the land.
SEAFORD, DEL. — Patriot Aluminum has purchased a 45,000-square-foot industrial building in Seaford, located in the central part of Delaware. The fencing manufacturer plans to relocate from Maryland and to invest about $4.8 million in equipping and building out its new space on Whitehurst Drive, which is being upgraded to support production, assembly and distribution uses. The company, which also plans to fabricate its own products at the site, expects to hire 19 additional people in addition to the 20 jobs coming from Maryland.
BEAR, DEL. — Third-party logistics provider AMS Fulfillment has signed a 181,074-square-foot industrial lease in Bear, located south of Wilmington. The lease term is 10 years, and the deal is for about half of the space at an under-construction facility at 710 American Blvd. The 366,770-square-foot building will feature a clear height of 36 feet, 68 overhead dock doors, 3,150 square feet of office space and parking for 250 cars and 50 trailers. A joint venture between two regional owner-operators, The Davis Cos. and J.G. Petrucci Co. Inc., owns the property, which is slated for a third-quarter delivery. Dan Rattay, Stephen Kriz and Mike Barker of CBRE negotiated the deal.
LEWES, DEL. — JLAM, an investment and development firm with offices in Delaware and Charlotte, is underway on construction of Lightkeeper’s Village, a 102-unit build-to-rent residential project in the coastal Delaware city of Lewes. The community will feature one-, two- and three-bedroom units and amenities such as a clubhouse, pool, fitness center and common green spaces. The design/build team includes Schell Brothers, regional architecture firm Union, Christiana Excavating and engineering firm Davis, Bowen & Friedel. Leasing is expected to begin before the end of the year.
SEAFORD, DEL. — SVN | Miller Commercial Real Estate has negotiated the $4.2 million sale of a 61,900-square-foot industrial building located in Seaford, a city in central Delaware. The new owner is leasing the space at 6063 Whitehurst Drive to its affiliated company, fencing manufacturer Patriot Aluminum. The McClellan Team at SVN | Miller represented the seller in the transaction, and the firm’s Flo Brotzman represented the buyer, an entity doing business as MKJ Properties LLC.
DOVER, DEL. — JLAM, an investment and development firm with offices in Delaware and Charlotte, is underway on construction of Windward Ridge, a 300-unit apartment community in Dover. The community will feature one-, two- and three-bedroom units and amenities such as a clubhouse, pool, yoga and fitness studios and wooded walking trails. Leasing is expected to begin sometime next year. Project partners include Architectural Alliance Inc., Erin Marshall Interior Designs, Morris & Ritchie Associates Inc. (civil engineer) and Christiana Excavating (sitework contractor). A general contractor has not yet been selected.
DELAWARE — Largo Capital, a financial intermediary based in upstate New York, has arranged a $14.5 million CMBS permanent loan for a portfolio of three manufactured housing properties totaling 342 sites in Delaware. The names and addresses of the properties, which collectively span more than 100 acres and were 94 percent occupied at the time of loan closing, were not disclosed. Jack Phillips of Largo Capital originated the nonrecourse, interest-only loan. The borrower and direct lender were also not disclosed.
WILMINGTON, DEL. — NAI Emory Hill has negotiated an 18,790-square-foot retail lease in Wilmington. Lexus of Wilmington has leased the building at 3401 N. Market St., which features six lifts, 18-foot ceilings and three drive-in doors, to house its new automotive repair facility. Rich Dudek of NAI Emory Hill represented the undisclosed landlord in the lease negotiations.
MILFORD, DEL. — Berkadia has brokered the $23.2 million sale of The Reserve at Sawmill, a 149-unit multifamily property in Milford, about 20 miles south of Dover. The sales price equates to a cap rate of roughly 5.7 percent. The property was delivered in phases between 1984 and 2008 and offers one-, two- and three-bedroom apartments, as well as five townhomes. Nat Gambuzza, Trevor Fiebel, Zac Pierce, Matthew Stefanski and Maura Spellman of Berkadia represented the undisclosed seller in the transaction. The buyer was also not disclosed. The property was fully occupied at the time of sale.
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