REAL ESTATE INVESTMENT
MRA Group | December 01, 2021
MRA Group (MRA) announced that they have closed on the acquisition of DuPont's Chestnut Run Lab Campus located at 984 Centre Rd in Wilmington, DE, and have embarked on an ambitious $500 million redevelopment plan. Renamed Chestnut Run Innovation & Science Park (CRISP), the 163-acre campus contains approximately 780,000 square feet of existing lab, research, and advanced manufacturing space.
Located in the Greenville area of Wilmington, Chestnut Run Innovation & Science Park is four miles west of Central Wilmington, DE, and just ¼ mile south of Barley Mill Plaza, which is currently developing over 110 residential units and commercial spaces, including the area's first Wegmans supermarket.
"We recognized the amazing potential for the campus to address the regional demand for market-ready life science and advanced manufacturing facilities, particularly when combined with its superior location along the I-95 corridor, Northern Delaware is ideally positioned to emerge as a hub for life science, research & development, and pharmaceutical manufacturing companies. The deep pool of educated and experienced professionals is an incredible asset to any firm locating here."
- Mike Wojewodka, MRA Group Executive Vice President and Partner.
Wojewodka believes the CRISP campus will further Delaware's attractiveness to innovative companies from around the world. Development plans include shared amenities to foster interaction and collaboration between tenants and the surrounding community. Dupont will continue to maintain its presence on the campus by leasing approximately 190,000 square feet in two buildings.
This is the third major campus redevelopment for MRA, having reinvented the 133-acre 600,000 square foot Spring House Innovation Park in Lower Gwynedd Township, PA, and the 137-acre, 800,000 square foot TEK Park in the Lehigh Valley, PA. MRA will utilize and enhance the existing infrastructure to create state of the art life science laboratories, scientific research facilities, and Class A office space. Planned campus amenities include a hotel, fitness center, conference space, an outdoor amphitheater, and accommodations for food services including restaurants and eateries.
"We are excited to be back in Delaware with such an incredible opportunity, and grateful to be at the helm of such an impactful project, Our vision for CRISP will set a new standard for innovative campus redevelopment in the region, as we believe it will become Delaware's leading biotechnology and science hub, while also providing an engaging community experience."
- MRA Group Founder and CEO Lawrence Stuardi.
About MRA Group
MRA Group (MRA), based in Horsham, PA, is a privately-held, multi-disciplined real estate solutions firm servicing the life sciences, health care and higher education sectors. Founded in 1991 by president and CEO Lawrence J. Stuardi, MRA prides itself on maintaining the same high level of integrity and excellence that led to its recognition as one of the most respected real estate firms in the mid-Atlantic region. With 30 years of providing clients with real estate solutions varying from development to advisory and management services, MRA has more than 4.5M square feet of medical, life sciences and office real estate under management, and has structured over $1B of financing. A few recent and notable development projects include Spring House Innovation Park, the Holy Redeemer Medical Building at 201 Veterans Way, Pennovation Lab at the University of Pennsylvania's Pennovation Works Campus, TEK Park, Oxford Valley Medical Plaza and the St. Clair Medical Office Building at St. Mary Medical Center.
REAL ESTATE INVESTMENT
First National Realty Partners | December 10, 2021
First National Realty Partners (FNRP) is pleased to announce the acquisition of Southland Crossings, a grocery-anchored shopping center located at 1150-1300 Doral Drive, Boardman, OH. Southland Crossings is a 245,678 SF shopping center that is 91% occupied and anchored by a 77,592 square foot Giant Eagle Supermarket. The property is located approximately 6.0 miles south of downtown Youngstown and adds to FNRP's rapidly growing portfolio of premier real estate assets in Ohio and throughout the United States.
"We are excited to acquire Southland Crossings and add Giant Eagle to our portfolio, In addition to having high-performing junior anchor tenants including Ross, PetSmart, DSW, and Michaels, Southland Crossings is shadow anchored by Lowe's and Walmart, who help drive foot-traffic to the center".
-Matt Annibale, Senior Director of Acquisitions at First National Realty Partners.
First National Realty Partners, LLC (FNRP) is a leading vertically integrated real estate investment firm focused on acquiring institutional quality commercial real estate throughout the United States. The firm is an active, opportunistic, and value-add investment firm that is equipped to operate in all facets of the real estate acquisition process as an investor, developer, and asset manager of commercial real estate. FNRP enhances the value of properties through hands-on management and targeted investments that result in superior, risk-adjusted returns for its investors.
Lone Wolf Technologies | May 26, 2020
Lone Wolf Technologies ("Lone Wolf") is pleased to announce that RamQuest has joined Marketplace, Lone Wolf's recently-launched selection of curated tech partnerships for its transaction management solutions, zipForm® Plus and TransactionDesk. This new addition will bring title insurance into zipForm® Plus, the national transaction management member benefit in the U.S., and digitize the entire title ordering process. RamQuest's leading integrated title, closing, and escrow accounting solutions are purpose-built for title and settlement operations, and provide users access to RamQuest's Closing Market, the industry's most extensive network of integrated service providers and partners.