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Patterson-Woods Commercial Properties / CORFAC International Awarded Exclusive Leasing Assignment for a 204,000-Square-Foot Class A Office Building in Wilmington, Delaware

Category: Assignments

Wilmington, Delaware (August 22, 2012) – Patterson-Woods Commercial Properties/CORFAC International, a leading full-service commercial real estate provider serving the extended northern Delaware market, today announced their exclusive leasing assignment for a 204,000-square-foot Central Business District (CBD) office building with ground level retail space on behalf of property manager, Daymark Realty Advisors.

The property, 824 N. Market Street, is a 10-story, Class A, CBD office building with flexible space options available. Office suites are available from 1,000 square feet to entire floor plates, which are close to 20,000 square feet. The largest tenant in the building is the United States Bankruptcy Court for the District of Delaware and the building is approximately 72% occupied.

Bart Mackey, Vice President & Partner, and Chris Lee, CCIM, Vice President, of Patterson-Woods Commercial Properties/CORFAC International will be managing the leasing assignment.

"The high quality of the building, the Central Business District location and immediately adjacent dining and retail amenities make this building a premier location within Downtown Wilmington," said Bart Mackey. "Because the U.S. Bankruptcy Court is located within 824, many law firms have found tenancy in 824 to be incredibly convenient," Mackey added.

The building is a short walk from Amtrak’s Wilmington Train Station and 25 minutes from the Philadelphia International Airport.

The Central Business District Wilmington inventory of office space is approximately 7.5 million square feet and the vacancy rate at mid-year 2012 is approximately 20 percent.

About Patterson-Woods Commercial Properties/CORFAC International

Patterson-Woods Commercial Properties is one of Delaware’s largest commercial real estate companies and offers a full scope of operations, including the sale and lease of commercial/industrial, retail and investment property as well as buyer & tenant representation, property management and business brokerage. Decades of real estate experience in the region is supplemented with input from a network of business and government contacts, which guarantees professional service for all ventures large or small. For more information on Patterson-Woods Commercial Properties/CORFAC International, contact the company’s Wilmington, Delaware office at 302-622-3500 or visit www.pattersonwoods.com.

CORFAC International (Corporate Facility Advisors) is distinguished by the way it manages multi-market commercial real estate assignments on behalf of corporate entities and privately owned companies. U.S.-based CORFAC 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 in North America, with coverage in South America provided by Panama-based Latin American Corporate Property Services. A Principal Member of FIABCI – the International Real Estate Federation with global affiliates in Europe and Asia, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged 10,000 completed transactions annually encompassing nearly 100 million square feet and valued at more than $6 billion. For more information on CORFAC, contact 703.532.6160 or visit www.corfac.com.