Buccini/Pollin Buys 207,000-SF Rollins Building

WILMINGTON, DE-The Rollins Building, a 207,000-sf Class A office building at 2200 Concord Pike, has been sold to The Buccini/Pollin Group for an undisclosed amount. Approximately 32,000 sf of space is unoccupied and CB Richard Ellis will handle the leasing activity exclusively. Space on the upper floors of the building goes for about $35 per-sf, and lower floor offices lease for around $29 per-sf, full service. The seller was Penske Truck Leasing, which acquired the building in a deal earlier in the year.

The 15-story building, which offers such amenities as a rooftop helipad, was erected in 1971 by the late John Rollins of Rollins Leasing Corp. “It is the only high-rise building in the suburban market,” CB Richard Ellis’ John Kaczowka tells Globest.com. “It’s a trophy project. It’s the one building you can see from all over the suburbs, so it’s very unique.” The building is currently undergoing renovations as new tenants are added. Pharmaceutical firm Syngenta recently signed a 15-year lease for 27,100 sf of space.