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Patterson-Woods/CORFAC International Sells Concord Pike Retail Property

Category: Notable Transactions

Wilmington, Delaware (January 28, 2014)Patterson-Woods Commercial Properties/CORFAC International President Duncan Patterson, CCIM, announced today Tom Ryan has represented Dafa Investments in the sale of a 2,315-square foot retail property located at 2707 Concord Pike in Wilmington.

The buyer is investor Church Road LLC which paid $740,000.00, or approximately $315 a foot at an initial return (capitalization rate) of 5.3 percent, according to Ryan.

“The location and credit-worthiness of the tenants made this an attractive local investment for this asset,” Ryan said.

The property is located on busy Concord Pike between U.S. 13 in Wilmington and the Pennsylvania border. The two tenants are Delaware Gold Exchange and Casapulla’s Subs, a locally renowned restaurant operator with multiple eateries in Delaware and a loyal base of customers.  

About Patterson-Woods/CORFAC International

Patterson-Woods Commercial Properties / CORFAC International is a leading commercial real estate services firm specializing in the Mid-Atlantic commercial property markets. We have been providing the most complete selection of commercial real estate services to the communities of Delaware, Maryland and Pennsylvania for over 40 years. Patterson-Woods Commercial Properties is a second generation company well known for facilitating solutions to the needs of the business community and developers of real property. For more information on Patterson-Woods/CORFAC International, contact the company’s Wilmington, Delaware headquarters at 302-622-3500 or visit www.pattersonwoods.com.

About CORFAC International

CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC International is celebrating its 25th anniversary in 2014. In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 60 countries worldwide. In recent years, CORFAC firms have averaged over 9600 completed transactions annually totaling more than 513 million square feet worth an excess of $5.95 billion for their customers. For more information on the CORFAC network, contact 703.532.6160 or visit www.corfac.com.