CBRE Arranges Sale of 100,000-SF Industrial Facility in Wilmington, Delaware

CBRE has arranged the sale of 701 Garasches Lane, a 100,000-square-foot industrial facility on 5.88 acres in Wilmington. Shaw Real Estate LLC purchased the property from Fibre Processing Corporation for $6.9 million.

CBRE’s Dan Reeder, Dan Rattay and Colby Reeder represented the seller in the transaction. The team has also been appointed as the exclusive leasing agent by Shaw Real Estate and will be responsible for the marketing and leasing of the property.

“The industrial facility at 701 Garasches Lane is ideally located in proximity to high-density population centers, ocean ports and a number of interstate highways,” said Reeder. “We are thrilled we were able to complete the sale of this exceptionally well-located asset, which drew interest from multiple regional and local investors and developers. We appreciate the new owner’s confidence in our team and look forward to finding the ideal users for the space available.”

Shaw Real Estate is set to reposition the majority of the building’s high‑bay section, originally constructed between 1994 and 2002, through significant cosmetic and infrastructure upgrades. These upgrades include new interior and exterior paint, new LED lighting throughout the building and site repaving.

"Shaw Real Estate has been looking for the right development opportunity to enter into the Wilmington market for years and has finally found the perfect asset to expand our footprint into Delaware,” said Steve Shaw, principal and founder of Shaw Real Estate. “We love the Wilmington market and are excited about this opportunity.”

Located within the city limits at the southern edge of Wilmington, the property offers immediate access to Interstates 495, 95 and 295 and is less than three miles from the Port of Wilmington. The site is also positioned within an Opportunity Zone and is adjacent to major redevelopment underway on Wilmington’s East Side, which includes several retail, multifamily and entertainment amenities.