350 Pigeon Point Road

Acquired in Winter 2022, 350 Pigeon Point is located in the growing New Castle submarket, and encompasses 3.1 acres with 18,000 SF of warehouse and a service facilities across two buildings with substantial outdoor storage space. The property’s prime location, approximately 0.5 miles from the Port of Wilmington and the I-495 onramp, is ideal for users requiring convenient seaport access and close proximity to major transportation routes. Historically used for truck and equipment storage, the property has heavy industrial zoning that is in limited supply and difficult to recreate, allowing for a wide range of industrial uses as of right. At acquisition, the property was leased to multiple local tenants, including a recycling company and local contractors. Catalyst performed an extensive capital improvement plan and leased the entire site to an international consumer goods company.