Baltimore-based Kraus Development has purchased the Venture Business Center in Seaford.
John McClellan and Kelly Jeter with SVN Miller Commercial Real Estate brokered the sale of the center at 180 Kent Drive.
This is the second Searod industrial investment in two years for Baltimore based Kraus Development.
In April of 2019, Kraus purchased an office/warehouse flex complex on Naylor Mill Road. Since the sale, the company made extensive renovations to the property including an upgraded parking lot, new roofs, and new landscaping/building facades.
The property is now fully leased, after having a 97 percent vacancy rate and owners were open to another investment.
Venture Business Center, on Venture Drive in Seaford just across the street from the regional FedEx Ground facility, features six 5,000 square foot warehouses that are fully leased.
Tenants leasing on the property include Brinks, Ditchwitch, Polytechnic, K Supply, and WH Metcalfe. A vacant parcel that could support another 5,000 square foot warehouse.
