The 1.64-acre parcel located directly on the coveted Route 1 corridor in Lewes, DE was being utilized as a commercial rental property.
An unsolicited offer prompted the sellers to investigate potential opportunities with their commercial real estate Advisors, John McClellan and Kelly Jeter. The analysis indicated that while the offer was strong, it may have been below market given the current level of activity. The McClellan Team advised the Sellers to publicly list and market the property to receive maximum value. After four strong offers were received, final negotiations lead to a selling price over 50% greater than the original offer with a timely closing before the end of 2021.
“I am confident that our success was largely due to our efforts to maximize publication and marketing of the property and avoiding a “pocket listing” mentality,” said John of the McClellan Team. “It was our pleasure to work with the buyers on this transaction to bring our client’s goals to fruition.”
Joe and Brent Reed of Cape Realty represented the buyer. The new owners are presently evaluating various uses for the property and are actively seeking tenants.
If you would like to further discuss how the SVN Difference can positively affect the marketing of your commercial property, as well as available purchase opportunities, please contact the McClellan Team at john.mcclellan@svn.com, kelly.jeter@svn.com or by phone at 410.543.2440.
SVN | Miller Commercial Real Estate, with offices in Salisbury, MD, Bethesda, MD, Easton, MD, Seaford, DE, and Onley, VA is a regional firm specializing in commercial real estate in the Mid-Atlantic region. We provide advisory, brokerage, consultation, leasing and asset and property management services to clients in the Mid-Atlantic Region. We combine a comprehensive national footprint with local decision-making expertise and market-leading execution*. We maintain an unequivocal commitment to our clients and community (#SVNgivesback).
SVN |Miller is an Accredited Management Organization® (AMO). Our team of dedicated professionals with market-leading knowledge includes a highly trained staff of Certified Property Managers® (CPM®), Brokers who hold the prestigious Certified Commercial Investment Member (CCIM) designation, and members of the Society of Industrial and Office Realtors (SIOR).
SVN | Miller Commercial is currently ranked #8 out of 200+ international SVN® Offices. For information on how to make SVN | Miller Commercial Real Estate the key to your success, contact 410-543-2440 or visit our website www.SVNmiller.com
