M id A tlantic Real Estate Journal — Washington, DC — Delaware —September 2025 — 23 D elaware
www.marej.com
By Jay L. White, MAI, CRE, Apex Realty Advisory Industrial, multifamily, and retail lead Delaware’s $200M+ CRE sales boom
T
he key indicators of commercial real estate market health – liquid -
rehabilitation facility with 34 beds. It is fully leased to a joint venture between Bayhealth Medical Center, Inc. and a subsidiary of Post-Acute Medi- cal, LLC. It sold in April for $23.5 million, or $691,176/bed. - 1945 Middle Neck Road – 135.05 acres of land pur - chased by Amazon in April for $87.5 million to build a five- story, 3,918,700 s/f high-tech warehouse. The sales price reflects $647,908/acre, or $22 of FAR. - Holly Woods & East Village Townhouses – two student housing complexes
in Newark with 25 units and 135 beds that sold in May for $13.45 million, or $99,630/bed. - 300 N. Wakefield – a 121,600 s/f building in Newark purchased by the in-place ten- ant in June for $27.5 million, or $226/sf. - 205 Stanton Chris- tiana Road – 43.47 acres in Newark approved for a 442,350 s/f industrial big-box warehouse. It sold in June for $18.6 million, $427,881/acre or $42.05 FAR, to Logistics Property Company. - Eden Square Shop- ping Center – a 98.2 percent
Although uncertainty and interest rate volatility have weighed on investment ac- tivity, the supply-demand imbalance, asset repricing, and sturdy fundamentals present a chance to pursue investment opportunities. Market performance is ex- pected to improve through the remainder of 2025. This will be driven by income growth from scarcity, discipline, and rising replacement costs. Jay L. White, MAI, CRE, is the founder of Apex Real- ty Advisory in Wilmington, DE. MAREJ
leased, 236,956 s/f shopping center anchored by Giant Food, Gabe’s, Starbucks, and Fulton Bank pads in Bear that sold in June for $30 million, or $126.61/sf. Pricing remains steady, debt has grown more expensive, liquidity remains tight, and tariff uncertainty looms, but the US economy seems some- what resilient against this. The impact of these factors, along with immigration poli- cies and geopolitical tensions, has slowed new construction while market fundamentals remain steady.
ity and deal activity – show signs of stabilization in the first half of 2025. Na t i o na l transaction volume hit $75.4 billion
Jay L. White
in Q1 2025, up 27 percent year-over-year, signaling a recovery from 2023. However, overall transaction activity, including property count and dollar volume, declined com- pared to both the previous quarter and last year. Below is a summary of larger (>$10 million) commercial real estate sales located through- out Delaware that occurred from January-June 2025. The sales volume tracked was up 141 percent in the first half of 2025 over the same period last year. Research into invest- ment sales occurring over the past six months has reflected in-place cap rates from 5.42 to 8.03 percent, with a median of 7.03 percent. - Reserve at Sawmill – a 149-unit garden apartment complex built in 1984 on 11.33 acres in Milford that sold in February for $23.2 million, or $155,705/unit. - 313 Churchmans Road – six parcels comprising part of Walker Farm and total- ing 62.03 acres, which sold in March for $15,696,500, or $253,047/acre and $18.75 FAR. The buyer plans to de- velop it into 837,000 s/f of industrial big-box warehouses in phases. - PAM Rehabilitation Center of Dover – a two- story, 42,140 s/f inpatient Becker Morgan Group ranks in Top 300 Architecture Firms DOVER, DE — Becker Morgan Group announced its continued rise on Architec- tural Record’s Top300 Archi - tecture Firms list, coming in at #222 in 2025 — a significant jump from last year’s ranking of #265. Becker Morgan Group’s rise in the rankings is fueled by projects like the Dover Middle School Campus, and Duck Creek Regional Public Library. MAREJ
O UR Q UALIFICATIONS • Certified General Real Appraisers serving Delaware, Maryland, and Pennsylvania with 37+ years of appraising experience • MAI designated real estate appraiser • CRE® Counselor of Real Estate o Awarded to real estate practitioners recognized for their expertise, experience, and ethics in providing advice O UR Q UALIFICATIONS Certified General Real Appraisers serving Delaware, Maryland, and Pennsylvania with 37+ years of appraising experience • MAI designated real estate appraiser • CRE® Counselor of Real Estate o Awarded to real estate practitioners recognized for their expertise, experience, and ethics in providing advice P ROPERTY T YPES Jay L. White, MAI CRE® 101 Brandywine Boulevard Wilmington, DE 19803 P: 302-479-5300 www.apexrealtyadvisory.com Jay L. White, MAI CRE® 101 Brandywine Boulevard Wilmington, DE 19803 P: 302-479-5300 www.apexrealtyadvisory.com
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• Retail • Office • Industrial Retail Office • Industrial
• Multifamily • Land • Special Purpose • Hospitality • Self-Storage Multifamily Land • Special Purpose • Hospitality • Self-Storage
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o Retrospective for estate tax purposes and current for future planning
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