Patterson-Woods Facilitates $1.7 Million Purchase of an Office Building in Middletown, Delaware

Category: Notable Transactions

Middletown, Delaware (August 24, 2018) – Patterson-Woods Commercial Properties/CORFAC International, a leading full-service commercial real estate provider serving the Mid-Atlantic market, today announced the completion of the sale of an office building located at 1050 Industrial Drive in Middletown, DE. The 20,160 square foot, two-story suburban office building sits on 1.48 acres.

The property was sold by Sherman Financial to Middletown Business Center, LLC, for $1,700,000.

Joseph Latina, Principal at Patterson-Woods, represented the buyer in this transaction. The Flynn Company represented the seller.

The property, known as Middletown Business Center, was built in 2007. It sits near the Amazon Fulfillment Center just off of Middletown Warwick Road (301). Tenants include the Middletown Chamber of Commerce, Premier Physical Therapy, National Mentor, Tri-M Group and Century Engineering.

The 1stfloor of the building will be the new headquarters of the buyer’s commercial property management and development company, Secure Management, Inc. In addition to moving to Middletown, the company is building a new shopping center, known as Hedgelawn Plaza, nearby on Route 301 just off the new Route 310 Bypass offramp. The new, state of the art, 56,000 square foot shopping center is currently under construction. Dairy Queen has opened for business with the 2ndphase slated for delivery in October 2018.

“It was a pleasure to, once again, work with Principal Shane Malek and his team at Secure Management as they continue to grow their footprint in the rapidly growing Middletown market,” said Latina.

 

About Patterson-Woods Commercial Properties/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 50 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 is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 46 firms in the U.S., 6 in Canada and 27 in international markets, including Australia, Colombia, France, Germany, Ireland, Israel, Italy, Mexico, Romania, Russia, South Africa, South Korea, Switzerland and the United Kingdom. CORFAC offices completed more than 10,000 lease and sales transactions totaling 500 million square feet of space valued in excess of $8 billion in 2017. Contact CORFAC at (224) 257-4400 or www.corfac.com.

Local Press contact: Allison Terranova | 302.622.3506 | terranova@pattersonwoods.com