SALISBURY, MARYLAND – December 16, 2020 – NAI Coastal and Gillis Gilkerson Principal Brad Gillis recently collaborated with Senior Advisors Henry Hanna and Tom Knopp of SVN Miller Commercial Real Estate to sell 1700 Dulaney Street, a +/- 208,000 square foot industrial building on +/- 10.5-acres in Seaford, Delaware.
The property was purchased by Gillis Gilkerson’s development team, a group well-known throughout the Delmarva Peninsula for their ability to maximize the value of formerly underutilized buildings. In the coming months, Gillis Gilkerson plans to remodel 1700 Dulaney Street, transforming it from a vacant warehouse into an industrial asset within the Sussex County community.
“There’s a strong, solid demand for high-quality regional warehouse space. Given its size and location, 1700 Dulaney is a prime candidate to help satisfy this need,” said Gillis. “As we move forward in our efforts to fill the building, our initial goal remains the same—we aim to bring new, lucrative users to the Delmarva Peninsula, allowing our community to reap the benefits.”
This purchase follows Gillis Gilkerson’s October 2020 acquisition of 200 Allen Street, an +/- 83,000 square foot, 13-acre industrial property also located within the City of Seaford. Both buildings offer convenient access to interstates leading to Washington D.C., Baltimore, Philadelphia, and Wilmington.
1700 Dulaney Street is actively listed for lease by NAI Coastal as part of the firm’s extensive 700,000+ square foot industrial portfolio. The building features 23’ ceilings and 11 loading docks; it can be leased in full or divided to accommodate multiple tenants with a minimum occupancy of +/- 25,000 square feet.
For leasing details or information on other available industrial properties across the Eastern Shore of Maryland and Delaware, contact Brad Gillis at Brad@NAICoastal.com or call 410-543-5115.
About NAI Coastal
NAI Coastal is a full-service commercial brokerage headquartered at Riverview Commons, 150 West Market Street, Suite 101 in Downtown Salisbury, Maryland. The team of ten advisors have comprehensive market knowledge and an unwavering commitment to the Delmarva region. In addition to brokerage and development, NAI Coastal rounds out their service offerings with consulting, which covers leasing, assemblage, acquisition and sale and investment advising. For more information please visit www.naicoastal.com or call 410-543-5115.