Gannett Building Sold to New Investor
February 29, 2012 – (RealEstateRama) — The home of Delmarva Media Group, a division of Gannett and its flagship newspaper, The Daily Times, has been purchased by a new commercial property investor.
Delmarva Media Group will remain as a long-term tenant and looks forward to its continuing service to the Delmarva Community with the new owner of the building.
The property is located at 618 Beam St. in Salisbury, MD within the Northwood Industrial Park. It features 49,000 square feet of space on over 10 acres of land. The entire building is fully heated, cooled and includes a functional warehouse/manufacturing facility.
The property was sold to a Pennsylvania-based investor, 618 Beam St., LLC, for a total of $2.3 million. The sale was brokered by John McClellan, CCIM and Henry Hanna, CCIM, SIOR of Sperry Van Ness – Miller Commercial Real Estate.
John McClellan, CCIM has been involved in real estate in the local market since 1987 and specializes in Commercial & Industrial Real Estate and Tax Deferred Exchanges. He joined the Sperry Van Ness-Miller Commercial team in January 2007. He brings more than 25 years of real estate experience and has secured more than 1,000 transactions, resulting in a career brokerage volume in excess of $250 million.
Henry H. Hanna, III, CCIM, SIOR serves as the National Director of Industrial Properties and is a senior advisor for Sperry Van Ness/Miller Commercial Real Estate. He specializes in the marketing and sale of industrial and commercial properties. With over 40 years of brokerage experience, Hanna has successfully represented banks, developers, investors, commercial and industrial companies as well as local and state governments.
Contact John McClellan or Henry Hanna for more information. 410-543-2428 or 410-543-2420.
Founded in 1987, Sperry Van Ness International, headquartered in Irvine, California, is the 10th most recognized commercial real estate company in the world with more than 800 advisors in 3 countries, 38 states, and 153 markets. Sperry Van Ness has completed more than 39 billion dollars in sales volume on 12,000 commercial real estate transactions in the last 4 years alone.
Sperry Van Ness – Miller Commercial Real Estate, with offices in Salisbury, MD, Wilmington, DE, Laurel, DE, and Lewes, DE provides advisory, brokerage, consultation, and leasing services to clients in Maryland & Delaware, and asset and property management in Maryland, Delaware, and Virginia. SVN-Miller is currently ranked #2 for Sperry Van Ness and has the largest market share of any one SVN office. To provide the highest value to its clients, Sperry Van Ness – Miller Commercial Real Estate promotes a philosophy of professionalism, backed by quality and ethical responsibility in all dealings. Guided by this principal Sperry Van Ness – Miller Commercial Real Estate advised clients on over $55.5 million in commercial real estate transactions in 2011. They currently manage 2 million square feet of commercial property. For more information about SVN – Miller, please visit www.SVNmiller.com or contact the office at 410.543.2440.
Sperry Van Ness – Miller Commercial Real Estate