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Patterson-Woods/CORFAC International Facilitates Purchase of Meditation Center in New Castle County

Category: Notable Transactions

Wilmington, Delaware (November 4, 2013)Patterson-Woods Commercial Properties/CORFAC International President Duncan Patterson, CCIM, announced today that Rich Dudek represented the Mid-Atlantic Vipassana Association (MAVA) in the acquisition of a former children’s home at 2901 Green Street in Claymont, DE, a city in New Castle County.

The property has an office building, three residential cottages and a shop building situated on approximately 13. 8 acres that is close to Interstate 95. It previously was occupied by the seller, Children’s Home Inc.

Terms of the sale were not disclosed.

MAVA was formed in Philadelphia in 1997 as the Delaware Valley Vipassana Association and renamed as MAVA in 2004. The technique of Vipassana Meditation is taught at 10-day residential courses during which participants learn the basics of the method and practice sufficiently to experience its beneficial results. MAVA has more than 5,000 students in the Mid-Atlantic States and there are over 100,000 Vipassana Meditation practitioners in sister organizations at 170 owned and operated retreat centers throughout the world. Vipassana means seeing things as they really are and the meditation techniques originated in ancient India.

“The Mid-Atlantic Vipassana Association (MAVA) conducts and oversees Vipassana meditation activities in the states of New Jersey (South), Pennsylvania, Delaware, Maryland, District of Columbia, and Virginia. Delaware is centrally located to serve this Mid-Atlantic region. Even though the buildings require substantial renovation, the overall layout and functionality will serve our needs and of equal importance, the property has a good buffer zone and many trees to filter noise and potential distractions for participants who visit and expect a high quality, meditation-retreat experience,” said MAVA Trust President Hema Palanivelu.

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.  In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 65 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.

Media Contact: Gary Marsh (415) 453-7045            or gary@marshmarketing.com