Patterson-Woods Commercial Properties/CORFAC International Facilitates $25,000,000 Sale of an Office Complex Turned School Campus in Wilmington, DE
Wilmington, DE (March 25, 2015) – Patterson-Woods Commercial Properties/CORFAC International, a leading full-service commercial real estate provider serving the Mid-Atlantic market, today announced the completion of the sale of an office complex located at Barley Mill Plaza in Wilmington, DE. The complex, consisting of 455,000 SF and spanning 36 AC, is being converted into a Charter school.
Tony Bariglio, Partner at Patterson-Woods, represented the purchaser, Odyssey Charter School, Inc., in this transaction. Bariglio previously represented Odyssey in 2006 in the acquisition of their current Upper School Campus at 201 Bayard Avenue in Wilmington, DE, which he currently has listed for sale.
The Lower School Campus moved to Barley Mill in March of 2014. Eventually, the entire school will migrate to Barley Mill, and in coming years will add grades 8-12, making it a K-12 school.
This transaction was financed through $34 million in bonds issued by the Delaware Economic Development Office (DEDO), an organization whose mission is to enhance industry, tourism, and employment in Delaware. Prior to Odyssey's involvement, the parcel served as an office complex to DuPont, before being sold to Barley Mill, LLC (Stoltz Real Estate Partners, LLC) in 2007.
About Patterson-Woods/CORFAC International
Patterson-Woods Commercial Properties/CORFAC International is a leading commercial real estate services firm specializing in the Mid-Atlantic commercial property markets. We have been providing the most complete selection of commercial real estate services to the communities of Delaware, Maryland and Pennsylvania for over 40 years. Patterson-Woods Commercial Properties is a second generation company well known for facilitating solutions to the needs of the business community and developers of real property. For more information on Patterson-Woods/CORFAC International, contact the company's Wilmington, Delaware headquarters at 302-622-3500 or visit
www.pattersonwoods.com.
About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with global affiliates, CORFAC International offers commercial real estate services with market reach in 48 countries worldwide. Founded in 1989, CORFAC firms completed more than 10,000 lease and sales transactions totaling approximately 400 million square feet of space valued in excess of $7.4 billion in 2014. For more information on the CORFAC network, visit
www.corfac.com
