New Castle, DE — The Emory Hill Companies have announced that they recently completed phase two of the sale of the White Clay Corporate Center office complex.
Shelbourne Global Solutions, LLC, a privately held firm headquartered in New York City, purchased four of the seven buildings in the complex in 2015, and recently purchased the remaining three buildings to complete the acquisition. White Clay Center, an office and industrial campus, is located on White Clay Dr. just off Rt. 273 near downtown Newark. The square footage of all seven buildings totals 493,581 s/f. This marks Shelbourne’s second major investment in the area, having closed on University Office Plaza in mid-2015.
One of Newark’s premier class “A” office parks, the properties’ major tenants include JP Morgan Chase, Citi Bank, Walgreens and First Data. NAI Emory Hill continues to handle the management and leasing of the property; there are several spaces available in the 100 and 400 buildings.
NAI Emory Hill director of brokerage and principal Neil Kilian, CCIM, SIOR, is the broker representing the landlord. “With its proximity to the University of Delaware and its new STAR (Science, Technology and Research) campus, the White Clay Center in Newark is a highly sought after office campus,” Kilian said. “We are seeing that Newark is becoming a rapidly growing city full of unlimited potential for economic development, and we are glad to be part of that expansion.” John Carpenter, of Cassidy Turley, represented White Clay Associates in the sale.
Since early 2013, Shelbourne has acquired more than 4 million s/f of class A office space.