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8C — June 22 - July 12, 2018 — Mid-Year Review — M id A tlantic
Real Estate Journal
Delaware Broker By David R. Morrison, CCIM, NAI Emory Hill Many signs of economic life in Northern New Castle County, Delaware
T
here is a lot happening when it comes to real estate in Delaware,
announced major investment plans in Delaware locations. Several redevelopment projects are underway in Wilmington including the mixed-use project at Con- cord Plaza off Rte. 202 and Silverside Rd. containing apartments, retail and a new office building. Steel is going up on The Galleria, another mixed-use project of apart- ments and retail in the Trol- ley Square area. In the center of Wilmington, the parking garage for the newMid-Town apartment complex and a new apartment building on
the Riverfront at 101 Ave. of the Arts are complete, and two new hotels are being built along with a new sports facility for the Delaware Blue Coats, A Philadelphia 76”s affiliate. Further north on Concord Pike (Rte. 202) the Astra Zeneca site, renamed Avenue North by the new owner and developer, has a great deal of potential for additional office/research facilities and residential and retail components. Other redevelopment sites underway in Greater New- ark include the old Avon
facility on Rte. 273 where demolition is nearing com- pletion and another 600,000 s/f of mixed-use development is planned. The project at Linden Hill Station in Pike Creek, which includes a mix of apartments, retail and of- fice buildings, is also nearly completed with landscaping being installed. The owners of College Square, a large retail center in Newark, recently announced plans to redevelop portions of the site to include apartments and reconfigured retail com- ponents. And the new STAR Tower on the University of Delaware’s Science, Technol- ogy and Advanced Research Campus is slated to be com- pleted this year. The $40 mil- lion, ten-story glass building will house state-of-the-art classrooms and research fa- cilities for the university and the top floors are available for lease as office space. In other parts of the Coun- ty, plans have been filed for the demolition of three mil- lion s/f at the old GM plant near Newport and it looks like the site could support large distribution and storage facilities given the proximity to the Port of Wilmington and rail access. New office build- ings, which have been pretty uncommon for several years, are nearing completion at 620 Churchman’s Rd. in New Castle and at 2951 Center- ville Rd. near Greenville. In the Christiana area, Christiana Hospital contin- ues its growth and construc- tion is underway on a nearly 400,000 s/f women and Chil- dren’s Center. The Fashion Center, a 560,000 s/f retail center adjacent to the Chris- tiana Mall, is unrecognizable from just a year ago. Major retailers and many restau- rants are thriving in this center despite everything we hear about failing retail, and the Christiana Mall remains of the most successful malls in the country. New residential projects are in the planning process for several large sites includ- ing closed golf courses at the former Brandywine Country Club, former Pike Creek Golf Course and the former Delaware National Club. While still operating, the Cavaliers Country Club is under contract and plans for continued on next page
e s p e c i a l l y in Northern New Castle County in- cluding more construction o f h ome s , multi-family units, office bu i l d i ng s ,
David Morrison
warehousing, institutional facilities and even retail than we have seen in many years. Several major firms including Dow-DuPont and Incyte have
STAR Tower
We’re Got the Perfect Location for You.
When it comes to finding office or flex space in Delaware...
Class A Office Space For Lease: Little Falls Centre I & II 2711 & 2751 Centerville Road, Wilmington
+/- 3,485 to +/- 35,332 RSF avail. in two 100,000 SF four-story renovated buildings with new cafe, fitness center, conference rooms & more on campus with scenic views of Wilmington skyline. Close to I-95.Contact: Neil Kilian, CCIM, SIOR, neilkilian@emoryhill.com
Flex Space For Sale: 20 E. Commons Blvd. New Castle 4.23 Acres zoned industrial with 28,000 SF Warehouse and 12,240 SF Office w/ workstations, kitchen, conference room, reception area, IT room in corporate campus setting. Contact: Dave Morrison, CCIM, davemorrison@emoryhill.com
Class A Office Space for Lease: 10 Corporate Commons New Castle +/- 1,511 SF to +/- 10,024 SF divisible in three-story office bldg; Mins. from I-95 and New Castle County Airport in corporate campus setting; On-site management, ample parking. Contact: Neil Kilian, CCIM, SIOR, neilkilian@emoryhill.com
Commercial Flex Space for Lease: 20 Corporate Commons New Castle Flex building with +/-33,000sf flex space and +/- 3,500sf office area in corporate campus setting w/ drive-thru capability, ample parking; Mins. from I-95 and New Castle County Airport. Contact: Neil Kilian, CCIM, SIOR, neilkilian@emoryhill.com
Two Pad Sites Ready for Development: Springside Plaza Biddle Avenue, Glasgow Two pad sites ready for construction of two 50,000 SF buildings in professional office
campus on Route 40 just off Rt. 896 mins. from I-95. Contact: Dave Morrison, davemorrison@emoryhill.com
Class A Office Space for Lease: 11, 13 & 15 Reads Way New Castle +/- 2,450 to +/- 10,324 SF divisible spaces avail. in three Class A office bldgs; Mins. from I-95 and New Castle County Airport. in corporate campus setting;.on-site management, ample parking. Contact: Dave Morrison, CCIM, davemorrison@emoryhill.com
Commercial Brokerage, Construction, Property Management, Maintenance & Residential Sales
10 Corporate Circle, Suite 100, New Castle, DE 302.322.9500 20245 Bay Vista Rd., Rehoboth Beach, DE 302.827.4940 www.emoryhill.com
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