Marshall J. Soss, president, and Justin M. Soss, vice president, of Chadds Ford-based KarMar Realty Group, were both the listing and selling brokers in the transaction. The new owner retained KarMar as exclusive leasing agent for the 10,000 sf of office space available in the building. The KarMar principals tell GlobeSt.com the asking rental rate is $15.50 per sf, plus electric.
The asking price represents a significant discount in comparison with the average asking price in Delaware County, which hovers at the $23-per-sf level, according to data from the Philadelphia office of CB Richard Ellis. The office vacancy rate in the county, however, is at approximately 20%, according to the same data. KarMar does business in Pennsylvania, New Jersey, Delaware and Maryland.
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