Emory Hill Companies announced the completion of phase two of the sale of the White Clay Corporate Center office complex.
Shelbourne Global Solutions, LLC, a privately held firm headquartered in Brooklyn, NY, purchased four of the seven buildings in the complex in 2015, and recently purchased the remaining three buildings to complete the acquisition. Financial terms were not disclosed.
White Clay Center, an office and industrial campus, is located on White Clay Drive just off Route 273 near downtown Newark.
The size of all seven buildings totals 493,581 square feet. This mark’s Shelbourne’s second major investment in the area, the first being the purchase of University Office Plaza in mid-2015.
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. Several spaces are 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.
Shelbourne Global Solutions, LLC, has partnered with institutional and privately held firms in a wide variety of transactions with a focus on single and multi-tenanted office and retail properties.
Since early 2013, Shelbourne has acquired more than 4 million square feet of Class A office space.
