CB Richard Ellis' SVP Steve Italiano and VP Bert DiClemente handled the transaction. CBRE is now looking to lease the building to flex and office tenants around the region. The two-story facility is located only a few miles from Delaware, which gives CBRE a bigger area in which to market the space.
[IMGCAP(2)]DiClemente tells GlobeSt.com that Starr Capital purchased the building, located at 380 Starr Rd., vacant. The asking rate--a bit higher because of the air conditioning--is $8.50 per sf, triple net. "It could suit very well a single corporate user," he says. "Conceivably someone could subdivide the building, but because it two-stories it is most ideal for a single user.
An expandable flex building, 380 Starr Rd. contains office, R&D and industrial space. There is both office and 18-foot high flex space on each level with heavy power, dock loading and parking for 361 cars. The property offers flexible zoning and is divisible to 20,000 sf.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
