ATAPCO PROPERTIES SELLS CHRISTIANA EXECUTIVE CAMPUS FOR $55,000,000

Baltimore, MD – Atapco Properties is pleased to announce the sale of Christiana Executive Campus in Newark, Delaware. The 450,000 square-foot, 30-acre, six-building office park was just sold to Delle Donne and Associates, a privately held real estate firm and full service asset management organization based out of New Castle, Delaware for $55,000,000.

The Class-A office park’s central location at the intersection of I-95, Routes 7 and 1, provides exception vehicular accessibility to Philadelphia, Wilmington, Southern New Jersey, Baltimore and Washington DC, and is convenient to major amenity centers, such as an on-site Hilton Hotel and Extended Stay America, the Christiana Mall and the Christiana Hospital.

Atapco Properties constructed Christiana Executive Campus in the 1990’s, and since 2007- the Campus has received $3,500,000 in improvements including energy efficient upgrades, a solar array, white reflective roofs, HVAC replacements and parking-lot overhauls.

The sale of Christiana Executive Campus, one of Delaware’s largest in recent history, will provide Delle Donne and Associates with a rare value-add investment opportunity of significant scale in the New Castle/Wilmington market, as well as a new home for their corporate headquarters.

Atapco Properties would like to thank the Newmark Grubb Knight Frank (NGKF) Capital Markets Group team of Michael Margolis, David Dolan, Brett Segal, Neal Dangello and Wills Elliman for their assistance in the marketing and sale of Christiana Executive Campus.

 

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Atapco Properties is a wholly owned subsidiary of American Trading and Production Corporation, which was originally formed in 1931 to consolidate, expand and diversify the business activities of the Blaustein family, the founders of the American Oil Company (AMOCO). Atapco Properties is active in Maryland, Indiana, North Carolina, Pennsylvania, Tennessee, and Virginia, developing state-of-the-art industrial, retail, residential and mixed-use projects with an emphasis on sustainability and green building standards. For more information on Atapco Properties, visit www.atapcoproperties.com.

 

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