Newport Industrial Park - 401 & 405 East Marsh Lane - 401 East Marsh Lane, Wilmington, DE

Property Type Industrial - Warehouse/Distribution
Property Size 151,484 SF
Lot Size 23.5 Acre
Parking Spaces Avail. 242
Parking Ratio 1.60/ 1,000 SF
Property Tenancy Multi-Tenant
Building Class B
Year Built 1999

City Wilmington, DE
Neighborhood Newport
Zip Code 19804
Market Philadelphia

Contacts

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Owner

True Owner
Registered Owner

Tenants

Suite Name	Tenant	Leased Space	Rent Price	Lease Type	Space Type	Lease Term
370 17th Street #5500	MERRILL, (303) 446-5500	23,824 SF	$23/SF/YR	Modified Gross	General Office	11/01/2014- N/A
370 17th Street #6000	Morrison & Foerster, (303) 592-1500	10,710 SF	$26/SF/YR	Full Service	General Office	08/01/2013- 07/31/2023

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Documents

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Sales

Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Amount
Loan Origination Date

Market Trends

Average Actual Rents in Wilmington

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Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in Wilmington Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $29.44
2020 Office Vacancy Rate 17.87%
2020 Office Completions (SF)

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Tax

Property Tax in 2021-2022 $100,622
Market Value* $3,564,500
Assessed Value $3,564,500

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*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of Newport Industrial Park - 401 & 405 East Marsh Lane?

Newport Industrial Park - 401 & 405 East Marsh Lane totals 151,484 square feet.

When was this property built?

Newport Industrial Park - 401 & 405 East Marsh Lane was built in 1999.

What is the property tax for Newport Industrial Park - 401 & 405 East Marsh Lane?

The property tax for Newport Industrial Park - 401 & 405 East Marsh Lane in 2021-2022 was $100,622.

What is the market value for Newport Industrial Park - 401 & 405 East Marsh Lane?

The market value* for Newport Industrial Park - 401 & 405 East Marsh Lane in 2021-2022 was $3,564,500.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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