FAMECO REPRESENTS OWNER IN SALE OF KIRKWOOD PLAZA IN WILMINGTON, DE. FOR $46 MILLION

         WILMINGTON, DE.-- Fameco Real Estate negotiated the sale of Kirkwood Plaza in Wilmington, De. to Oekos Kirkwood LLC, a subsidiary of Oekos Corporation, for just over $46 million, it was announced by Brandon Famous, CEO and founder of the retail real estate firm based in Plymouth Meeting, Pa.

    Fameco's Ron Cappello represented the owner, DLR Properties, LP, in the sale of the 310,000 s.f. center on Kirkwood Highway, which is 95% leased.  Anchor stores include Kohl's, Pathmark, AC Moore and Petco.

     Developed by Dale L. Reese in the 1960s, Kirkwood was one of the first large centers to be built in New Castle County.   Cappello remained in contact with the owner over the years and when the trustees of DLR Properties, LP were prepared to sell the center, they contacted Cappello and enlisted the services of Fameco.

    The buyer, one of more than 20 who submitted offers, was pleased with the way Fameco handled the transaction and has since retained the firm as the center's leasing agent.

     Fameco is the Delaware Valley's foremost real estate firm in the retail sector.  Fameco specializes in retailer representation, owner representation, investment sales and management services in Pennsylvania, New Jersey, Delaware, and beyond.

        The firm is the exclusive representative for 90 shopping centers and retail properties totaling 14 million square feet in the tri-state area, manages 9 million s.f. of retail space and exclusively represents more than 75 retailers expanding in the Delaware Valley.   Fameco's Investment Sales Team has completed transactions in excess of $1 billion.

        Fameco is the ChainLinks member shareholder in the Delaware Valley. Chainlinks is the nation's largest retail-only real estate provider with 62 regional brokerage firms in the U.S. and Canada. 

October 18, 2007