SEAFORD, DE – The McClellan Team and Flo Brotzman, Advisors with SVN | Miller Commercial Real Estate, recently sold 6063 Whitehurst Drive in Seaford, Delaware. The McClellan Team represented the seller and Brotzman represented the buyer.
Last year, The McClellan Team worked with the former owner of the 125,000 SF industrial complex on the disposition of their asset which resulted in a $7,400,000 sale. With the buyer only needing to occupy 50% of the square footage (one building), that left the front 6063 building partially occupied and yielded a need to fill a large vacancy for the new ownership group.
Prior to the vacant space going on the market for lease for the new owners, Flo Brotzman brought a prospect needing a little more than the available space with a strong desire to purchase. While it was never the new owner’s intention to sell the 6063 building, The McClellan Team and Brotzman were able to arrive at deal terms that made the disposition of the 61,900 SF warehouse make sense. Not more than 30 days after ownership had settled did they enter into an agreement to lease, then sell off the 6063 warehouse for $4,200,000.
Through negotiations with one of the existing tenants for an early termination, necessary space for the new user was provided. The McClellan Team and Flo structured the deal to allow the future owner of the 6063 building to lease from the current owners for 1 year with a set purchase price that transacted 1 year later, overcoming obstacles and utilizing some creative financing strategies.
All parties were pleased with the results, allowing the seller to make a timely return on the 6063 building, while achieving all of the buyer’s objectives in their transition into industrial real estate ownership.
“The McClellan Team is a team of true professionals. We appreciate their dedication to seeing this deal through and appreciate the guidance and expertise they provided at every step of the way,” said the Seller.
“Working with Flo Brotzman was a game-changer – knowledgeable, attentive, and always advocating for our best interests. She made sure we got the best deal possible, and we wouldn’t hesitate to work with Flo again on our next commercial purchase,” said Kelly Shotwell, CAO, MKJ Properties LLC.
MKJ Properties LLC is renting the space to their affiliated company Patriot Aluminum. Patriot Aluminum manufactures their own line of residential and commercial fencing for customers along the East Coast. With the purchase of the new building and more space, Patriot Aluminum plans on venturing into the Mid-West.
If you would like to speak with either The McClellan Team or Flo Brotzman, call 410.543.2440 or email john.mcclellan@svn.com or flo.brotzman@svn.com.
SVN | Miller Commercial Real Estate is a regional firm specializing in commercial real estate, providing advisory, brokerage, consultation, leasing, and asset & property management services to clients in the Mid-Atlantic Region. (#SVNgivesback) The firm’s unique Shared Valued Network reflects its commitment to transparency, innovation, and inclusivity enabling collaboration with the entire commercial real estate industry for the benefit of clients and community.
SVN | Miller is an Accredited Management Organization® (AMO), boasting a team of dedicated professionals with market-leading knowledge and expertise including Certified Property Managers® (CPM®), Certified Commercial Investment Members (CCIM), and members of the Society of Industrial and Office Realtors (SIOR). SVN | Miller Commercial is currently ranked #6 out of 200+ international SVN® Offices. For information on how to make SVN | Miller Commercial Real Estate the key to your success, contact 410-543-2440 or visit our website here.
