Press Releases
Marcus & Millichap Sells Seaford Industrial Portfolio for $7.4M
May 07, 2024
SEAFORD, Del., May 7, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 124,784-square-foot industrial portfolio in Seaford, Delaware, for $7,400,000.
"Due to the limited properties available in the greater submarket," says Bob Johnson, first vice president investments, "the buildings were well-received by the owner-occupied community, thus creating an opportunity to execute a seamless transaction."
Bob Johnson and Paul Johnson, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, a Maryland-based LLC. Timothy B. Stephenson Jr., Broker of Record, assisted in closing the transaction. Additionally, the Johnsons collaborated with John McClellan and Kelly Jeter of the SVN-Miller Commercial Real Estate office in Salisbury, Maryland, in closing the transaction.
The industrial portfolio, located at 6063 and 6095 Whitehurst Dr., spans 23 acres. It comprises two buildings, including an undeveloped 10-acre tract with potential for expansion by 60,000 square feet or for material/trailer storage. The warehouses feature high ceilings, dock doors, drive-in doors, conditioned production space, food-grade clean space, and office facilities.
"Due to the limited properties available in the greater submarket," says Bob Johnson, first vice president investments, "the buildings were well-received by the owner-occupied community, thus creating an opportunity to execute a seamless transaction."
Bob Johnson and Paul Johnson, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, a Maryland-based LLC. Timothy B. Stephenson Jr., Broker of Record, assisted in closing the transaction. Additionally, the Johnsons collaborated with John McClellan and Kelly Jeter of the SVN-Miller Commercial Real Estate office in Salisbury, Maryland, in closing the transaction.
The industrial portfolio, located at 6063 and 6095 Whitehurst Dr., spans 23 acres. It comprises two buildings, including an undeveloped 10-acre tract with potential for expansion by 60,000 square feet or for material/trailer storage. The warehouses feature high ceilings, dock doors, drive-in doors, conditioned production space, food-grade clean space, and office facilities.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
