CBRE arranges sale of 207,000 s/f class A office building in Wilmington, DE
Wilmington, DE — CBRE has arranged for the sale of a class A office building located at 824 North Market St. in downtown Wilmington to Chopp Holdings of Lakewood, NJ. This was Chopp Holdings’ first acquisition in the State of Delaware.Jerry Kranzel, Robert Fahey, Erin Hannan and Jack Corcoran of CBRE Capital Markets’ Institutional Properties team marketed the building on behalf of the previous owner of 824 North Market St.Built in 1982, the 10-story office building is located in the heart of the Wilmington CBD directly across from Wilmington’s US District Courthouse. Currently, 62% of 824 North Market’s existing occupancy is General Services Administration tenants, anchored by the U.S. Bankruptcy Court, which occupies 65,941 s/f. The property also houses retail tenants such as Santander Bank, Brew HaHa! and Jimmy John’s, among others.