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WILMINGTON, DE-Miller Realty Inc. is set to close on the 34,500-sf Tally Ho Shopping Center in $10.5-million transaction. Operating under its long-term hold strategy, AMC Delancey Group is selling the fully occupied mixed-use property after 11 years.

Tally Ho occupies a corner spot at the intersection of Rte. 202 and Naamans Rd. AMC Delancey acquired the dual-structure property at auction in 1984. The property features one building containing retail space and another with both retail and office space.

"We decided to sell to take advantage of current market opportunity presented by both historically low interest rates and a sub-seven percent capitalization rate at the time of divestiture," AMC Delancey president and CEO Kenneth P. Balin says of the disposition. Patterson Wood's Tony Bariglio represented Miller, while Mark Berk of Sperry Van Ness repped AMC Delancey.