Newark, DE, September 18, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of 1.6 Acres of land located at 457 Stanton Christiana Rd, Newark, DE, according to Tim Stephenson, regional manager of the firm’s Philadelphia office. The asset sold for $400,000.
Derrick Dougherty, Nick Geaneotes, and Jacob Haslach investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a non-profit group, and the buyer, a private individual based in Delaware.
“This is a rare shovel-ready site on Route 7, with permits already in place for an 11,700-square-foot shopping center," said Derrick Dougherty, Senior Managing Director Investments. “There isn't much development-ready commercial land left in New Castle County, so this site stood out.”
“The parcel sits right next to a busy Royal Farms and a new Casa Kahlo restaurant, with nearly 69,000 vehicles passing by each day,” said Nick Geaneotes, Associate Director Investments. "The flexible CR zoning also gives the buyer a lot of options for retail, restaurant or office use.”
“The site is across from the J.P. Morgan Chase campus and close to I-95, Christiana Mall and ChristianaCare," said Jacob Haslach, Associate Investments. “Those nearby employers and shopping centers bring steady traffic to the area.”
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 8,818 transactions with a sales volume of $50.8 billion in 2025. The company had 1,808 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.
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