Commercial Real Estate Market Facts – October 2016
- The 4-story office building located at 1000 Uniquema Blvdin New Castle sold in early October 2016 for $2.3 million, or about $38 per square foot.
- Two, suburban office buildings at 242 & 248 Chapman Roadand totaling 143,941 square feet sold in August 2016 for $15.5 million, or $107.68 per square foot.
- A 485,987 square foot industrial manufacturing facility located at 400 Lukens Drivethat was fully leased to Zenith Home Corp. just sold in August for $27.5 million, or $56.59 per square foot.
- 222 Lake Drive in Newark sold in July 2016 for $4.5 million, or about $55 per square foot. This industrial flex building totaled 80,075 square feet on 25.47 acres.
- 701 Pencader Drivein Newark sold in August for a total consideration of $8.34 million for a 151,000 square foot warehouse building that was fully leased to two tenants.
- 31/32 Trolley Squarea 5,760 square foot, three-story, mixed use unit sold in July 2016 for $1,150,000, or almost $200 per square foot.
- The TD Bank ground lease in West Chester, Pennsylvania sold in June 2016 at a 5.26 percent cap rate.
- The Chick-fil-A ground lease in Middletownsold in July 2016 at a 4.25 percent cap rate.
- The AutoZone ground lease on Kirkwood Highwaysold in July 2016 at a 4.25 percent capitalization rate.