Peter Feldman, president of Legacy Real Estate Developers, said Nov. 4 that the company has purchased the former Casio America Inc. headquarters building in Dover.
The 126,108-square-foot industrial and office property was bought in a joint venture partnership with Saddleback Real Estate Developers and Commerce Park Investors. The 38-year-old building was purchased in an all-cash deal whose details were not disclosed. The property is on 22.8 acres at 570 Mount Pleasant Ave.
Ellie Klapper, executive vice president of CBRE, was the investment sales broker on the transaction.
“Casio was looking for a quick-close transaction with no red tape. Our ability to close fast is something that we can easily offer because of our long-term experience and resources,” said Peter Feldman, president of Legacy Real Estate Developers.
The property has 26-foot warehouse ceilings, eight dock doors, two drive-in doors, and about 275 parking spaces. It also has approximately 60,000 square feet of office space and 70,000 square feet of warehouse. Its proximity to Interstate 80 provides optimal access for logistics, distribution and advanced-manufacturing users.
The deal originated when a CBRE marketing release for the property reached Salvatore Frassetto, the chairman of Saddleback Real Estate and was shared with Feldman. Casio prioritized a buyer with a track record of reliability and an ability to meet aggressive timelines — criteria that have long defined both Legacy and Saddleback.
“We look for properties that are functionally excellent but underappreciated,” Feldman explained. “The Casio building is immaculate with an unbeatable location. It’s the type of acquisition that lets us create value immediately while preserving the site’s long-term potential.”
The Legacy team plans light renovations to the Dover facility, which will be marketed for lease or sale in early 2026. The building’s configuration and infrastructure make it ideal for single-user headquarters or multi-tenant industrial operations.
Casio America Inc. was established in 1957 and is a unit of Japanese consumer electronics company and business equipment maker Casio Computer Co.
