DOVER, DE—A private buyer has acquired a seven-asset officeportfolio here for $26.6 million. There are sixbuildings located at 800-861 Silver Lake Rd.,comprising 170,696 square feet. Then, two miles to the south at100 Enterprise Pl, there is a seventh buildingthat is 55,050-square feet. All together, the 225,746-square footportfolio is 97% occupied. Most of that space—80%--is utilized byvarious Delaware state agencies.

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David Dolan, Michael Margolis, Joseph Sklencar Sr. andBrett Segal of Newmark Grubb Knight FrankCapital Markets in Philadelphia marketed the properties, along withNeal Dangello based in Wilmington, DE.

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The Silver Lake campus is located on the western shore of SilverLake. It also includes a six-acre site that has been approved foran additional 60,000 square feet of office space development.

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The largest agency among the portfolio's tenants is the Officeof Management and Budget and its divisions, which occupy more than22,000 square feet on Silver Lake Road and more than 17,000 squarefeet on Enterprise Place. Other tenants also include the Departmentof Insurance in 27,877 square feet at 841 Silver Lake Rd., and theDepartment of Family Services in 24,228 square feet at 821 SilverLake Rd. The Department of Finance, Veterans Affairs, CriminalJustice, Department of Treasury, Division of Accounting, Departmentof Natural Resources and Environmental Control, Public ServiceCommission, and Professional Regulations and the Kent CountyDepartment of Elections also are tenants.

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"The varying expiration dates and the state's AAA credit madethis a rare opportunity for a buyer seeking exceptional returnsfrom an institutional-quality portfolio," Dolan says in a preparedstatement.

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The portfolio also offered recently replaced roofs feature solarpanels and 20-year transferable warranties.

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