Wesley Cox, CCIM, Senior Advisor with SVN-Miller Commercial Real Estate announces the sale, lease, and redevelopment of 200 E. Vine St in Salisbury, MD, more commonly known as the building across from Evolution Craft Brewing & Public House. A portion of the property sat vacant for over 5-years with the entire property being vacant for over a year.
After an attempt to acquire the property did not work out due to time constraints on the buyer’s part, Wesley continued to search for a solution for his client. Ultimately, Wesley found the solution by putting a developer in place that would lease back 3,500 SF to the client. It was not going to be an easy endeavor as the property had some potential significant challenges to overcome which is why choosing the right development partner for this property was going to be a key part of the deal. Gillis Gilkerson, the development partner Wesley put in place, diligently executed their work during a tight due diligence period including working with Wesley to execute the lease for 3,500 SF with CoreLife all before settlement. The property is now under redevelopment and will be ready in the early Spring 2019 with approximately 9,000 SF available for lease. “Without the sense of teamwork and collaboration I had with Bradley Gillis and Joey Gilkerson of Gillis Gilkerson this property would still be sitting vacant today. My client is very happy that we were able to think out of the box and provide a solution to help with their growth plan”, Cox commented.
This is the 4th new location Wesley has found and negotiated on behalf of CoreLife and are currently working on two more new locations on Delmarva. On Delmarva they currently have other locations in Salisbury, Berlin, Easton, Millsboro, and soon to be Seaford, DE. CoreLife is one of the fastest growing healthcare companies in the region having added over 25 locations in 2018 with up to an additional 50 new locations in 2019. The mission of CoreLife is, “Enhance the total health of our community by providing a comprehensive, compassionate, and tailored approach to BMI optimization and lifestyle modification through the coordinated management of medical, nutrition, exercise, and behavior disciplines.”
To inquire about this transaction, get information about available properties on the Eastern Shore, or if you need commercial real estate representation contact Wesley Cox at firstname.lastname@example.org or call 410-543-2421.
SVN-MILLER COMMERCIAL REAL ESTATE
SVN - Miller Commercial Real Estate, with offices in Salisbury, MD, Easton, MD, and Seaford, DE is a financial services firm specializing in commercial real estate. 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).