Mid Atlantic Real Estate Journal — Brokerage Directory — July 27 - August 16, 2012 — 3B
B rokerage D irectory
eW CAsTLe, De — Much like the tor- toise in the legendary By Edd connor, NAI Emory Hill DE activity increases across all product lines: NAI Emory Hill business grows as a result N of space is still available near Christiana Care hospital just off rt. 7 and I-95.
brokerage team that illustrate this “across the board” growth: • A new Middletown sports Complex recently opened at 938 Middletown-Warwick Dr. (Us rt. 301) in Middletown in the former Bob Wagner’s Flooring showroom, leasing 22,000 s/f of flex space. • The 225-year-old Wilmington Library recently leased space for a temporary location during renovation on the third floor of the one Customs house Bldg. at 704 N. King st. NAI emory hill’s steve Dobraniecki repre- sented the library in the 22,700 s/f lease.
• Woodfield Apartments in Wilmington was sold to Trinity Communities, LLC. The 135 apartment unit building at 4641 Patrician Blvd., formerly known as Patrician Terrace, sold for $6.29 million. NAI emory hill principal Neil Kilian repre- sented the buyer. • several transactions have oc- curred recently at emory hill’s portfolio property, springside Plaza LLC, a medical office complex in Newark, De, in- cluding leases to Nationwide Insurance (251 s/f), New Day UsAFinancial (4,059 s/f), DeW softech Inc. (957 s/f), College
Bound Coaching (302 s/f) and Capital environment (2,473 s/f). NAI emory hill broker Dave Morrison is the listing broker for springside Plaza, which has 30,000 s/f of office space available as well as two pad sites. • First state endocrinolo- gy, P.A. leased suite 100 of the hampton Bldg. at 1082 Churchmans rd. in Newark to open a second facility for its practice. NAI emory hill’s Jim o’hara, Jr. represented landlord hampton Point Corp. in the lease of 2,096 s/f. The building’s remaining 9,904 s/f
race with the har e , c om- mercial real estate bro - kerage in the Mid-Atlantic region is now progressing s l owl y bu t surely, but it
• Long-time De accounting firm Wheeler, Wolfenden, Dwares CPAs renewed its lease at 4550 New Linden hill rd., suite 201 off Limestone rd.in Pike Creek. NAI emory hill represented the landlord in the $1 million lease transaction of 8,215 s/f. • At the Airport Business Ctr. several recent deals in- clude a 5,000 s/f lease to the Chimes group of De on Quigley Blvd. and a 29,000 s/f lease on Blevins Dr. n
still takes harder, smarter, more consistent and diligent effort according to NAI emory hill’s senior broker edd Connor. And the increase in activity of late is “across all product types,” more so than it has been in the past year. “We’re seeing deals being done not only in the office and multi-family real estate categories, but also in special purpose, medical office, even industrial and retail,” said Connor. NAI emory hill is “cautiously optimistic” that this slow but steady growth will continue in Delaware according to Connor. “Landlords are willing to make deals and tenants are starting to be willing to commit and buyers that were on the side- lines before are coming to the forefront with sellers willing to sell. The whole picture is coming together but we have to keep working hard at making it happen.” NAI Global chief economist Dr. Peter Linneman recently provided his insights into the economy’s effects on the com- mercial real estate market, saying the Mid-Atlantic region is reflective of the nation’s econ- omy and capital markets, which are still in uncharted waters but gradually improving. “Commer- cial real estate investors are in a window of opportunity right now,” he said. “entrepreneur- ial investors should be seeking what everybody else doesn’t want. They are looking for the upside.” however, they are still remaining cautious, not lever- aging or accumulating debt as heavily as they did before the recession, and seeking long- term transactions. one positive sign of all of this is that NAI emory hill just opened a new, second location in Lewes, De earlier this month to better serve the downstate area and already it has closed several retail transactions. Connor also points to a va- riety of transactions that have been closed within the past few months by the NAI emory hill
We’re All Over It.
LEASED: CHIMES of DE leased 5,000 SF at the Airport Business Center, 122-140 Quigley Blvd. in New Castle, DE Still Available: Up to +/- 25,000 SF for lease Contact: Edd Connor
LEASED: Physician’s Practice First State Endocrinology, P.A. leased Suite 100 at 1082 Churchmans Rd., Newark DE for 2nd location Still Available: Up to +/- 9,904 SF for lease near Christiana Care Hospital - Contact Jim O’Hara Jr.
LEASED: 5 New Tenants incl. Capital Environment, Nationwide Insurance at Springside Plaza, Newark, DE Still Available: Up to +/- 30,000 SF for lease in 3 bldgs. - Contact Dave Morrison
Commercial Brokerage, Construction, Property Management, Maintenance & Residential Sales
10 Corporate Circle, Suite 100, New Castle DE phone 302.322.9500 18335 Coastal Highway, Lewes, DE phone: 302.827.4940 www.emoryhill.com
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