U.S. Army Acquires 20 Acres in Newark, DE

The United States Army Corps acquired 20.65 acres of land at 1001 Ogletown Road in Newark, DE, from a private seller for $7.73 million, or approximately $375,000 per acre.

Located in the South New Castle County submarket, the site has more than 1,000 feet of frontage on Newark Christiana Road. Reportedly, there is a 193,460-square-foot industrial building on the property. The building is vacant and the buyer plans to demolish it.

Neil Kilian of NAI Emory Hill represented the seller. Kelly Van Horn of Newmark Knight Frank Smith Mack and Mark Deering of MacKenzie Commercial Real Estate Services LLC represented the buyer.

For further details, please refer to CoStar COMPS #1761702.