SALISBURY, MARYLAND – February 10, 2021 – NAI Coastal Principal Joey Gilkerson is pleased to announce the City of Salisbury’s purchase of Truitt Street Community Center, a +/- 5,000 square foot building located at 319 Truitt Street in Salisbury, Maryland. Gilkerson worked with the City transform the former warehouse into a recreation center for local youth, which ultimately led to their acquisition in January 2021.
Prior to purchasing, the City leased the property beginning in 2017. NAI Coastal Advisor Christian Phillips and Tonney Insley of SVN Miller Commercial Real Estate collaborated to co-broker the lease.
“When the City approached us with their plans, we knew that we had the tools in place to help bring their vision to life,” said Gilkerson. “Our development partnership allows us to reach beyond the typical offerings of a standard brokerage to provide our clients with qualified insight into renovation feasibility, cost estimation and completion timelines. In this case, we not only identified the property and brokered the transaction, but also acted as the City’s developer and contractor for the Truitt Street project.”
As a direct result of NAI Coastal’s collaborative efforts, the City purchased a finished community center rather than a warehouse still in need of renovation. Truitt Street Community Center is the first of four planned facilities aimed to provide Salisbury’s youth with a safe place to gather, learn, and play.
Gilkerson specializes in the redevelopment of commercial properties and has extensive experience dealing in all facets of real estate. To explore other local redevelopment options, contact Joey Gilkerson at Joey@NAICoastal.com or call 410-543-5115.
About NAI Coastal
NAI Coastal is a full-service commercial brokerage headquartered at Riverview Commons, 150 West Market Street, Suite 101 in Downtown Salisbury, Maryland. The team of ten advisors have comprehensive market knowledge and an unwavering commitment to the Delmarva region. In addition to brokerage and development, NAI Coastal rounds out their service offerings with consulting, which covers leasing, assemblage, acquisition and sale and investment advising. For more information please visit www.naicoastal.com or call 410-543-5115.
