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COLLIERS LANARD & AXILBUND BROKERS SALE OF FORMER SEARS WAREHOUSE

NEWPORT, DEL. — Philadelphia-based Colliers Lanard & Axilbund (CLA) has brokered the sale of the former Sears distribution center located at 200 Sears Blvd. in Newport. The property comprises an approximately 251,912-square-foot warehouse and distribution facility situated on 12.5 acres within First State Industrial Park. The facility has been vacant since 2006. Mark Chubb and Larry Bergen of CLA represented the seller, Sears, and Andy McGhee, also of CLA, represented the buyer, J&J Langhorne Properties, which has already pre-leased the property to a third party. The acquisition price was undisclosed.

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