Real Estate Journal — April 13 - 26, 2018 — 21A
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M id A tlantic
D el M ar V a
DELAWARE, MARYLAND, VIRGINIA, OH MY! Send all Press releases and advertising inquiries regarding DelMarVa (including Washington, DC) to: Steve Kelley skelley@marejournal.com or call 781-740-2900 ext. 205
McKee Builders to develop The Grove at Fenwick Island D2 Organization sells 61-unit townhomedevelopment plan F enwick Island, DE – The D2 Orga- nization recently se-
cured an approved 61-unit town home development plan and sold it to McKee Builders . McKee will develop the prop- erty into The Grove – brand new townhomes designed for easy and elegant Delaware beach living. 2.8 miles from the beach, Fenwick Island of- fers the perfect mix of fun and relaxation for family vacations, leisurely retirement days, and beach adventures of every kind. D2 identified the former low lying wooded site and secured the 16-acre infill land develop- ment project in 2015. Over a 15-month period D2 worked with local zoning and land-use officials as well as environmen- tal and wetland engineers to Front Royal, VA — KLNB announced the dispo- sition of a newly constructed Royal Farms in Front Royal. The 5,166 s/f single tenant net lease property is located at corner of US Rte. 340/US Rte. 522 and Overlook View Dr. The offering is an absolute net ground lease, consisting
16-acre infill land aerial
creatively design and plan the community and secure approv- als for the site. Once all approvals were se- cured, McKee acquired the property and began quality
construction on the 61 town- homes with an emphasis on en- ergy efficiency. The new beach townhomes at The Grove are built for whole-house energy efficiency inside and out. n
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Presents Spring Preview Spotlight Featuring Expert Articles and Market Reports
KLNB to handle disposition of newly constructed Royal Farms absolute net ground lease in Front Royal, Virginia
Farms is a prime opportunity for an investor with a 1031 exchange. This property has a long term lease and national, synergistic retailers as neigh- boring tenants. Incremental increases throughout the pri- mary term and each option period allow for a great hedge against inflation.” n
of a recently executed 20-year ground lease with six, five- year options and favorable increases through the primary term and each option there- after. Peter Snell , director of KLNB’s Single Tenant Net Lease Group, is leading the disposition. Snell said, “The Royal
April 27, 2018 Commercial Retail Industrial Multifamily Financial Contact: Steve Kelley P: 781-740-2900 x205 skelley@marejournal.com
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