M id A tlantic Real Estate Journal — June 2024 — 3A
www.marej.com
ILMINGTON, DE — Incyte, a Delaware-founded W Biopharmaceutical company will renovate the 517,307 s/f of buildings Incyte chooses to grow in Delaware with investment in new Wilmington site
of Delaware, the City of Wilm- ington and other partners – to explore Delaware sites for ex- pansion. DPP also supported the company’s request to the Council on Development Fi- nance for a Jobs Performance Grant of up to $9,177,075 and a Graduated Lab Space Grant of up to $5,670,000 from the Delaware Strategic Fund. Distribution of these grants is dependent upon the company meeting commitments as outlined to the CDF, which re- viewed and approved Incyte’s request for up to $14,787,075 million in total funding. “Incyte has been an in- novative pillar of the Dela- ware business community since it was founded here in 2002, and Delaware Prosper- ity Partnership is pleased to support the company’s expansion into downtown Wilmington,” said Rod Ward , co-chair of DPP’s Board of Directors. “New jobs and capital investment of this project’s magnitude will pro- vide a tremendous boost for the city and create opportunities that will benefit many Dela - ware families along with the community at large.” MAREJ to attract large-scale indus- trial/warehouse users, and our team is proceeding with this next-phase speculative development with tremen- dous confidence,” said Taylor Fields , Knott Realty Group’s VP of leasing. “The Yellow Brick Road portfolio offers important fundamentals, in- cluding immediate access to the major north-south high- way serving the Northeast US Corridor, proximity to a major port and international airports, and a highly-skilled labor market which remains of extreme importance to end-users. Both buildings are engineered with energy- efficiency roofs and HVAC systems designed to mitigate costs and resources.” MAREJ
development teams. Expanding Incyte’s offices to downtown Wilmington will create numerous benefits for Incyte – vacated office space at the Alapocas campus will be converted into much- needed lab space and will accommodate the company’s projected future growth. The City of Wilmington will also benefit from the resulting reduction in office vacancy and the new-to-Wilmington jobs, which will be skilled, technical and managerial po- sitions with annual salaries ranging from over $90,000 to over $200,000. “Delaware has been our home for more than 20 years, and we are looking forward to expanding our operations in Wilmington and continuing to grow our company here,” said Incyte CEO Hervé Hop- penot . “We are grateful to the continued support of the state, the city and others, in- cluding Delaware Prosper- ity Partnership (DPP) , who have supported our company and fostered innovation and growth in our region.” DPP worked with Incyte – collaborating with the State segregated parking fields for employee and visitor park- ing. The large bay design and speed bay will be suitable for a range of light manufac- turing, warehouse, logistics and last-mile operations and can accommodate single and multi-tenant uses. The Yellow Brick Road port- folio is situated one mile from the Baltimore Beltway (I-695) and two miles from I-95. It is seven miles from the Port of Baltimore, 40 miles from Washington, DC, 80 miles from Philadelphia and 180 miles from NYC. More than 40 % of the population of the US can be accessed within a one-day truck drive via I-70 and 95. “The greater Baltimore met- ropolitan region continues
global biopharmaceutical com- pany has chosen downtown Wilmington for an expansion. Incyte announced it has purchased the Bracebridge I and Bracebridge III buildings at King and French streets in downtown Wilmington. The structures were built in the mid-1990s for MBNA and used by the bank until its 2006 merger with Bank of America, which eventually left both sites empty. Incyte will renovate the buildings, whose 517,307 s/f will almost double the company’s Dela- ware footprint, starting with Bracebridge I. The new space will allow Incyte to continue building its Delaware employ- ee base by bringing in more than 300 employees currently working in Chadds Ford, PA, and provide space to grow and add more than 500 new posi- tions across the two buildings in the future. “Incyte’s decision to move their headquarters to downtown Wilmington is not only a big deal for the city – it’s a big deal for our state,” said Governor BALTIMORE, MD — Bal- timore-based Knott Realty Group has initiated develop- ment of two industrial/ware- house buildings comprising 276,000 s/f of space, repre- senting the final phase of the company’s Yellow Brick Road business community. Upon the expected comple- tion of 9107 and 9114 Yellow Brick Rd. in Q2 2025, the business park, situated in the Rossville section of Baltimore County, will total more than one million s/f of space within nine buildings. Knott Realty Group is handling all market- ing and leasing activities for the speculative development with its in-house team. 9107 Yellow Brick Rd. (150,492 s/f) and 9114 s/f) will
Bracebridge I
Incyte’s leadership for their commitment to Delaware.” Incyte was founded in Dela- ware in 2002 and has grown steadily over the last 22 years. The company has its European headquarters in Switzerland and maintains commercial operations and offices in other European locales as well as in Asia and Canada. Since 2014, Incyte’s global headquarters has been a former Wanamak- er’s department store site just outside the Wilmington city limits in Alapocas. That loca- tion, which has been expanded to include three buildings, cur- rently houses the company’s corporate and research and
John Carney . “Incyte is a Delaware success story. Incyte grew out of its space at the DuPont Experimental Station and moved hundreds of employees into a renovated headquarters at Augustine Cut Off. Not only does this an- nouncement mean more great jobs in our state – but it means that there is more opportunity for Incyte to keep doing good in our community and across the world. Incyte’s research makes a huge difference in peoples’ lives. We couldn’t be prouder to call them a Delaware-grown company and we’re excited about their next chapter. I want to thank
Knott Realty Group initiates construction on final phase of Yellow Brick Road portfolio comprising 276,000 s/f of space
9107 Yellow Brick Road
be built simultaneously using tilt-up construction methods. The single-story buildings front- ing Yellow Brick Rd. will each feature 32-foot ceiling heights, ESFR sprinklers, high-bay LED lighting, and a seven-inch un- reinforced concrete slab. 9107 Yellow Brick Road will offer 46 dock doors and two drive-in doors with 226 vehicle parking
spaces. 9114 Yellow Brick Rd. will be built with 38 dock doors and two drive-in doors with 160 vehicle parking spaces. There will also be an addi- tional trailer/outside storage lot that can support up to 29 trailer drops. Both buildings share a deep truck court to allow movement of large tractor trailers, with
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