28A — March 16 - 29, 2012 — DelMarVa — Mid Atlantic Real Estate Journal
www.marejournal.com
D EL M AR V A
By: Casey Kenton, CCIM, Investors Realty, Inc. Dover and Smyrna, Kent County Delaware’s Economic Center
D elaware’s business friendly corporate tax structure along with
ates affordable manpower for Delaware based businesses. In addition, Delaware’s Sales Tax Free status attracts national retailers and consumers who enjoy increased purchasing power when shopping in Dela- ware. Dover, Delaware is located in the geographic center of the state and serves as the His- toric Capital City, the County Seat and home to the majority of State of Delaware govern- mental offices. In addition, Dover is home to one of the largest Air Force bases in the country, the Dover Air Force Base (DAFB) which special-
izes in transporting service men, women and equipment to operations worldwide, as well as strategic support to the White House. Kraft Foods, Bay Health Hospital and the State of Delaware, are three of Dover’s largest employers which help fuel the economic engine and trade area. The historic town of Smyrna, Delaware is approximately 15 miles to the north of Do- ver with a quaint Downtown district as well as a thriving commercial corridor along Rt. 13. Smyrna has been one of the fastest growing towns in Delaware due to its small
town living and access to a high quality lifestyle. The Town’s residential growth has blossomed as Delaware’s county government to the north imposed a restrictive growth code driving local de- velopers and homeowners to seek refuge to the south near Smyrna. Smyrna residents enjoy central access to all of the State’s natural resources as well as economic stability through retail, commercial and industrial growth in the region. Smyrna’s town govern- ment has been instrumental in Smyrna’s prosperity due to its practical and business
friendly approach to small town government. Dover and Smyrna, Delaware offer substantial opportunity for business growth and de- velopment with ample cost ef- fective manpower, residential lifestyles laden with ameni- ties, growth and infrastruc- ture friendly governments, all centrally located on the Delmarva Peninsula and the Eastern Seaboard. Casey Kenton, CCIM is a Broker for Investors Re- alty, Inc., a family owned property management business based in Dela- ware since 1974. ■ DOVER, DE—HREC Invest- ment Advisors, the nation’s leading lodging and gaming real estate advisory firm, today announced the sale of the Days Inn in Dover, DE. The 81-guestroom property was purchased by Days & Night Lodging Services, LLC a hotel investment group out of Philadelphia, PA from a Special Servicer for an un- disclosed price. Ketan Patel, Vice Presi- dent of HREC Investment Advisors’s Washington DC office and Scott Stephens, Senior Principal and COO of HREC Investment Advisors represented the seller in the transaction. The Days Inn Dover is conveniently located in the heart of Dover on U.S. Route 13, the primary commercial thoroughfare in Dover and the greater Delmarva Pen- insula. Dover is not only the state capital but home to a variety of significant demand generators including the Dover Downs Casino & Inter- national Raceway, Delaware State University and Dover Air Force Base. HREC is the nation’s lead- ing lodging and gaming real estate advisory firm special- izing in property sales, mort- gage brokerage, equity/JV structuring, consulting (mar- ket studies and appraisals), and commitment to client service through its team ap- proach, intellectual capital and hotel/casino specializa- tion. ■ HREC arrange the Sale of Days Inn
its geograph- ic location in the Mid-At- lantic creates an oasis for emp l o y e r s seek i ng t o relocate their operations to a strate-
Casey Kenton
gic location in the center of the Mid-Atlantic region. Delaware also encourages residential growth by offering some of the lowest real estate taxes in the country, which in turn cre-
COMMODORE COMMONS RT. 13 - SMYRNA, DE - FOR LEASE
Investors Realty, Inc.
Commodore Commons is a newly constructed state - of - the - art executive office complex located on the northbound lane of Rt. 13 in the heart of Smyrna, DE in Kent County. 2010 AADT traffic count of 22,000 cars per day. Several suites available for lease at competitive rates.
BUILDING 1 AVAILABILITIES
Suite 102 - 1,390 Sq. Ft. Suite 102B - 1,720 Sq. Ft. • Combined - 3,110 Sq. Ft. Suite 105 (Fit -Out Complete) • 1,307 Sq. Ft.
Executive style-suites, less than 400 Sq. Ft. w/private access
•
BUILDING 2 AVAILABILITIES
Suite 201 - 1,736 Sq. Ft. Suite 202 - 1,840 Sq. Ft. Suite 203 - 1,612 Sq. Ft.
5,188 Sq. Ft. Combined
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Demographic Overview
1 mile
3 miles
5 miles
2010 Population
7,508
17,237
20,111
Average Household In- come
$ 60,215 $ 61,854 $ 63,369
Median Age
35.1
36.6
37.5
CASEY KENTON, CCIM
For Additional Information :
ckenton@i-realty.com Mobile: (302) 228-1128 Office: (302) 736-0270 x216
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