Thursday, May 14, 2015

Brandywine Sells Suburban Delaware Office Portfolio for $50.1M

BPG Real Estate Service LLC acquired the Delaware Corporate Center in Wilmington, DE and the Christiana Corporate Center in Newark, DE. Brandywine Realty Trust sold the five office buildings for $50.1 million, or about $103 per square foot.

1 and 2 Righter Pky in Wilmington are both three-story office buildings constructed in 1987 with a 3.4:1 parking ratio. They total 104,761 and 95,514 square feet. Christiana Corporate Center is made up of three buildings, each three-stories tall. 100 Commerce Dr. was built in 1989 and is 62,787 square feet, 200 and 400 Commerce were both built in 1998 and are 68,034 and 154,086 square feet, respectively.

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