3850 SE Three Mile
US - McMinnville, OR
THB 173,433,000 | 2,309 m²
Jones Lang LaSalle Americas, Inc (“JLL”) has been retained on an exclusive basis to arrange the sale of 103, 301 & 201 Bellevue Parkway (the “Properties”, “Offering”, or “Campus”) located in Wilmington, New Castle County, Delaware. The 17.8 acre Campus comprises of two four-story office buildings and a historic mansion currently being used as amenity space. The institutionally owned Properties are being offered with the current user-owner (Bank of New York Mellon, Credit: Aa1) entering into a leaseback of 100% of the space in either 103 or 301 Bellevue Parkway, while delivering the other building vacant at the time of the sale.
This presents a rare opportunity, as the lease-back of one of the Properties offers stabilized cashflow through its strong, investment grade and credit tenancy from Bank of New York Mellon. An incoming investor will have the ability to structure lease terms that will provide predictable in-place cashflow and will allow for flexible re-tenanting of the rest of the campus.
The Properties offer an exceptional combination of natural beauty, infrastructure, road access and population density. 103, 301, & 201 Bellevue are surrounded by prominent corporate neighbors including CIGNA, BlackRock, Interdigital, AstraZeneca’s U.S. headquarters, JP Morgan Chase, DuPont, Barclays, and Bank of America, among many others. The Properties are adjacent to the I-95/I-495 on-ramp, providing unrivaled accessibility to both the local Wilmington area as well as to the Philadelphia Metro Area.
New Castle County, while being the smallest county in Delaware, is the most economically developed in the state. This stems from, the lax financial regulation statewide, which has led to over 50% of publicly traded companies, as well as 60% of Fortune 500 companies calling Wilmington their “corporate domicile”.
Ability to Accommodate Large Users
Desirable Location & Abundant Surrounding Amenities
Superior Connectivity to Major Delaware & Pennsylvania Population Centers