NKF Arranges Sale of Premier Retail/Mixed-Use Development Site in Rehoboth Beach, Delaware for $13.5 Million

Wilmington, DE (June 20, 2017) — Newmark Knight Frank (NKF) today announced the sale of the 10.3-acre; 448,668-square-foot parcel at the southeast corner of the Coastal Highway (Route 1) and Holland Glade Road, in Rehoboth Beach, Sussex County, Delaware. The $13.5 million sale represents the last large commercial land tract along the Route 1 corridor between Lewes and Rehoboth Beaches. Mike Margolis, Dave Dolan and Neal Dangello of NKF represented the seller, the Corrado Family, LLC in the sales transaction. Coastal Station Development Co., LLC were the buyers.

The site will be redeveloped with the first phase to begin immediately and will include a Royal Farms convenience store and Iron Hill Brewery and Restaurant (planned to open in summer 2018).

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