Tonney Insley, Advisor with SVN Miller Commercial Real Estate has participated in 10 transactions in the past 28 months in Downtown Salisbury, MD. These sales total almost 100,000 square feet and over $4 million dollars in value.
Property sales downtown have seen an inclining trend over the past 2 years. The number of closed transactions within a 3-mile radius of 100 W. Main Street, Salisbury, MD, saw a 15% increase from 2018 to 2019. So far 2020 sales for January through April are up 50% from the same time in 2019. Investors are realizing the opportunity available to own a piece of history and capitalize on the City’s revitalization of the Plaza Downtown and the surrounding area.
Some of these 10 deals have spurred major change towards the progressive image Salisbury is pursuing and SVN’s Tonney Insley brokered each of them. The most notable would be 119, 132 and 144 E. Main Street, which is the expected site of “The Ross,” potentially Salisbury’s tallest building. Insley represented the sellers of these properties, The Salisbury Area Chamber of Commerce and George White.
212 E. Main is another example of private investment in a historic downtown property. Purchased by Green Street Housing, LLC and renovated to modernize and extend the life of the historic building, Insley represented both the sellers and the buyers. Green Street Housing also installed 56kW rooftop solar array to offset 70% of the energy consumed by 18,000 square foot building.
Insley also recently sold 107 W. Main, the former “Kuhn’s” Building, as well as 146 W. Market Street, the former “Market Street Books”, to investors looking to grab some of the downtown action.
If you would like to discuss representation with Tonney Insley, he can be reached at email@example.com or by phone at 410.543.2440 or 410.543.2491.
SVN | Miller Commercial Real Estate, with offices in Salisbury, MD, Bethesda, MD, Easton, MD, Seaford, DE, and Onley, VA 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).