Medistar Corporation Acquires 21st Century Plaza Office Building
Houston-based real estate developer buys 263,500 SF Class A headquarters building for division of Farmers Insurance in Wilmington, Delaware
Houston, TEXAS, April 1, 2015 (Newswire.com) - Medistar Corporation (“The Company”) acquired the 21st Century Plaza property on March 30, 2015. The 263,500 square foot Class A office building is located in the New Castle North submarket of Wilmington, Delaware and ±95% occupied by 21st Century Insurance - a division of S&P A+ rated Farmers Insurance - and Solenis International.
Sited on 17.92 acres and featuring 50,000 square-foot floor plates, the recently renovated five-story building was built in 1995. Currently, the building features a new roof consisting of 60 mm reinforced TPO membrane, fully renovated lobby and first floor common corridor, updated parking lot and LED lighting modernization.
Located near the Pennsylvania state line at the intersection of Route 202 and Route 92, the building enjoys immediate access to Concord Mall and Brandywine Town Center, a 900,000 square foot power center featuring Lowe’s, Michael’s, Bed Bath & Beyond, Dick’s Sporting Goods and Target.
“The strategic acquisition of 21st Century Plaza reflects our longstanding commitment to acquire high-quality real estate assets in healthcare and related industries nationwide,” said Monzer Hourani, Founder and Chief Executive Officer of Medistar.
About Medistar:
Medistar Corporation (www.MedistarCorp.com) is a full-service medical real estate development company that primarily specializes in the design, development, financing, acquisition and construction of hospitals, medical office buildings and related facilities nationwide.
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Media Contact
Paul McCleary
Vice President – Business Development, Medistar
pmccleary@MedistarCorp.com
713-266-8990
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in the Company's expectations.
