Saturday, July 11, 2009

Low Lease Rates for Non Profit Organizations

The Greater Dover Foundation has identified a need in Kent County for a Community Building. Following the example in Wilmington, The Greater Dover Foundation is leading the charge to create a similar facility located in downtown Dover. Our mission is to bring together multiple non-profit organizations under one roof while providing the financial benefit of below-market lease rates for these groups.

The Greater Dover Community Building is located at 101 West Loockerman
Street in the heart of downtown Dover. In addition to the financial
benefit, this building will be a symbol that reminds our community that charitable gifts have a direct impact on the future success of our community. Our efforts are also a giant step towards the revitalization of Downtown Dover since the non-profit organizations in the Greater Dover Foundation Community Building will be working with thousands of Kent County citizens.

The building is currently being renovated by Becker Morgan Group and Lighthouse Construction; both of Dover, Delaware. Renovations should be completed by the end of summer and tenants are expected to move in in soon after. Lease rates for the facility are less than $9.50 per square foot.
Each tenant will have access to a large and small conference room, storage room, kitchen area and parking lot. Leases in the Greater Dover Foundation Community Building are considered full service and include all utilities except phone service.

The Greater Dover Foundation received the initial funding needed to purchase the building thanks to generous donations from the Longwood and Welfare Foundations. As The Greater Dover Foundation receives additional grants, these funds will be directed towards decreasing all tenants lease rates per square foot. The Greater Dover Foundation is also seeking additional sources of funding to assist with furnishing the common area in the building.

Space is still available to interested 501c3 organizations. If your 501c3 organization is interested in leasing Class A office space in the heart of downtown Dover at below market lease rates, please contact R & R Realty at 674-3400.

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