NYC firm hired to market Silver Spring business park

November 16. 2012 11:00AM - Last modified: November 16. 2012 11:04AM

Jason Scott

New York City-based Newmark Grubb Knight Frank, one of the largest commercial real estate services firms in the country, has been hired as the exclusive adviser for Delta Pointe at Silver Spring.

The recession slowed the pace of development of Delta Pointe. Photo/submitted

The 85-acre tract on Route 114, just off Interstate 81, in Silver Spring Township is owned by Hampden Township-based Delta Commerce Park Developers LLC, which is owned by Delta Development Group Inc. executives LeRoy Kline Jr. and Eric Clancy.

Delta Pointe is a mixed-use business park with infrastructure in place to support nearly 450,000 square feet of office space, two hotel/restaurant lots and accessory services, including banks and retailers.

Lots range from 2 acres to 24.7 acres and are build-ready. Ten of the 12 parcels are available, Delta said.

Delta has owned the tract since 2007. The recession slowed the pace of development.

Engineering firm Gatter & Diehl Inc. is the only current tenant in the park. Delta has secured one of the other lots for a future headquarters.

"The Newmark Grubb Knight Frank team was selected for its in-depth local market knowledge and its unique ability to facilitate the entire vertical construction process from tenant placement and build-to-suit options to financing strategies," Eric Clancy, Delta's executive vice president, said in a statement.

Situated along the I-81 corridor between Carlisle and Harrisburg, Delta Pointe has exposure to more than 90,000 vehicles daily.

Newmark Grubb Knight Frank is part of BGC Partners Inc., which trades its shares on the Nasdaq under the ticker symbol BGCP.

The global brokerage created the firm after acquiring Grubb & Ellis Co. in April. BGC bought Newmark Knight Frank in October 2011.


www.cpbj.com