NGKF Capital Markets Represents Owner in the $15.55 Million Sale of Two-Property Portfolio in Newark, Delaware

Philadelphia, PA (September 13, 2016) — NGKF Capital Markets has successfully completed the sale of 242 and 248 Chapman Road (the “Portfolio”) in Newark, Delaware. The NGKF Capital Markets team comprising Mike Margolis, Dave Dolan and Brett Segal, along with area experts, Neal Dangello and Wills Elliman, represented Equus Capital Partners in the $15.55 million sale to Chapman Business Associates, LLC.

The two-building portfolio consists of 242 Chapman Road, a three-story, 65,967-square-foot office building and 248 Chapman Road, a two-story, 77,974-square-foot office building. Both buildings are 100 percent occupied by two long-term tenants.

KBR, the anchor tenant, has occupied 82 percent of the rentable square footage since 1991. The tenant’s long-term commitment to the Portfolio is driven, in part, by the firm’s local clients. Approximately half of KBR’s staff services DuPont Corporation, headquartered in Wilmington. The Portfolio’s second tenant, HP Enterprises, has also been a long-term tenant since 2000, and is under lease until 2021.

Click here to read the full press release.

©2020 PACT All Rights Reserved