Trinova completes first acquisition for its US Investment Program

Lori Peters, a director of inbound sales, said the new Comcast call center in Newark, Del., is a big upgrade from the two older Delaware call centers, which were right on Route 14 and lacked any green space.

 

Trinova Real Estate announced today their first acquisition of its US Investment Program comprising a fully leased 154,000 sq ft office property situated at 400 Commerce Drive in Newark, DE which has been acquired from The Buccini Pollen Group. Jerry Kranzel and Robert Fahey of CBRE Philadelphia represented Buccini/Pollen in the transaction.

 

The property is leased in its entirety to the American telecommunications conglomerate Comcast which amongst multiple subsidiaries owns NBC Universal (the world’s second largest broadcasting and cable television company by revenue) and Xfinity (the largest home internet service provider in the United States).

 

Comcast has signed a new 10-year lease on the three storey building which is now known as the Newark Centre, and have designated the building as one of its four ‘XOC’ critical operations centres to cover the entire US market.

 

Recently benefiting from a full refurbishment, the property is now home to over 800 employees who are surrounded by hydroponic living walls, collaboration areas and environmentally friendly lighting and heating controls.

 

Additional amenities include large open-floor plans, a coffee bar, full service restaurant, fitness centre with yoga studio, games room, outdoor patio and lake, along with multiple smart kiosks to book its numerous meeting spaces and standing desks.

 

“This property is an ideal first acquisition for our US investment program that we have launched in 2019, and which we plan to build upon over the coming months and years to become a core part of our international business” said Edmund Costello, partner of London-based Trinova Real Estate.

 

Trinova worked with Kairos Real Estate Partners on the project who have a long and successful track record in the greater Philadelphia region. Stephen J. Gleason, president of Kairos Real Estate Partners commented “400 Commerce marks Kairos’ first acquisition of a stabilized asset, and we are delighted to participate in Trinova’s first US acquisition,”

 

Kairos Real Estate Partners is a regional real estate company that invests in and operates best-in-class office and mixed-use assets that include a blend of commercial, residential, cultural and institutional uses. Kairos partners with institutional as well as private investors to fund acquisitions across the risk spectrum where value can be added through leasing, hands-on asset and property management, and property repositioning. For more information, visit www.kairosrep.com.