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DelawareDevelopmentIndustrialLife SciencesNortheastTop Stories

Merck Breaks Ground on $1B Pharmaceutical Manufacturing Facility in Wilmington, Delaware

by Kristin Harlow

WILMINGTON, DEL. — Biopharmaceutical giant Merck (NYSE: MRK) has broken ground on a $1 billion pharmaceutical manufacturing facility in Wilmington, about 30 miles southwest of Philadelphia. Known as Merck Wilmington Biotech, the 470,000-square-foot project will comprise laboratory, manufacturing and warehouse capabilities. Merck says the center will enable the launch and commercial production of next-generation biologics and therapies. Notably, the facility will be the Rahway, N.J.-based company’s first domestic site for producing cancer treatment drug Keytruda. Reuters reports that the Delaware plant is in effort to expand domestic production as Merck prepares to deal with President Trump’s tariffs. In its first-quarter financial results, Merck estimated that the impact of tariffs imposed so far would lead to additional costs of approximately $200 million for the company in general. Located within the 164-acre, 14-building Chestnut Run Innovation & Science Park (CRISP), the new facility will help foster growth in Wilmington’s biotechnology sector, creating more than 500 full-time roles and roughly 4,000 construction jobs. The laboratory component is expected to be fully operational by 2028, with production of experimental drugs anticipated to start by 2030. Pennsylvania-based developer MRA Groups owns CRISP, which is in the midst of a large-scale repositioning, and MRA Group is …

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DelawareLoansMultifamilyNortheast

Lument Provides $14M CMBS Loan for Refinancing of Apartment Building in Lewes, Delaware

by Taylor Williams

LEWES, DEL. — New York City-based Lument has provided a $14 million CMBS loan for the refinancing of Mi-Place at Vineyards, a 41-unit apartment building in the coastal Delaware community of Lewes. Mi-Place at Vineyards is part of a lakefront master-planned community and offers one-, two-, three- and four-bedroom units. Amenities include a pool, fitness center, clubhouse, pickleball and volleyball courts, picnic areas, a dog park and access to walking trails and a lakeside beach. Mi-Place at Vineyards also includes a retail component. Ben Retter of Lument originated the fixed-rate loan, which retires existing debt issued by a local bank. The borrower is Fernmoor Homes.

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DelawareLoansNortheastOffice

D2 Capital Advisors Arranges $26M Permanent Loan for Life Sciences Building in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — D2 Capital Advisors, a Philadelphia-based intermediary, has arranged a $26 million permanent loan for an 80,000-square-foot life sciences building in Wilmington. The building was completed in 2023 as part of the redevelopment of the 164-acre Chestnut Run Innovation & Science Park. The building was fully leased at the time of the loan closing to Prelude Therapeutics, which develops cancer treatment drugs. Jack Cortese, David Frankel and John Lightcap of D2 arranged the loan on behalf of the borrower, Pennsylvania-based developer MRA Group. The direct lender was not disclosed.

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DelawareDevelopmentNortheastRetail

Weis Markets Breaks Ground 64,000 SF Grocery Store in Middletown, Delaware

by Taylor Williams

MIDDLETOWN, DEL. — Regional grocer Weis Markets has broken ground on a 64,000-square-foot store in Middletown, Del. The store, which will include a fuel station, will anchor Bayberry Town Center, a 280,000-square-foot development located within the 1,500-acre Village of Bayberry master-planned community. Construction is expected to be complete before the end of the year. Blenheim Group is the master developer of Village of Bayberry.

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AcquisitionsDelawareIndustrialNortheast

Outrigger Industrial Acquires 125,000 SF Property in Bear, Delaware

by Taylor Williams

BEAR, DEL. — Outrigger Industrial, which is a joint venture between four private real estate investors and firms Davidson Kempner Capital Management and Monarch Alternative Capital, has acquired a 125,000-square-foot property in Bear, located south of Wilmington. The property comprises two buildings totaling 40,000 and 85,000 square feet on an 8-acre site that were fully leased to a single tenant at the time of sale. The seller and sales price were not disclosed.

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Residence-Inn-Wilmington-Del
DelawareDevelopmentHospitalityNortheast

MRA Group to Develop 127-Room Residence Inn Hotel in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — Pennsylvania-based MRA Group will develop a 127-room hotel in Wilmington, Del., that will be operated under the Residence Inn by Marriott brand. The hotel will be located on the 164-acre Chestnut Run Innovation & Science Park campus and will feature food service, a full-service bar and meeting/event spaces. Construction will begin this month. A tentative completion date was not announced. Gulph Creek Hotels will manage the property, which will be the first hotel constructed in the area in nearly three years, according to MRA Group.

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DelawareLeasing ActivityNortheastRetail

Sprouts Farmers Market Opens 23,000 SF Store in Middletown, Delaware

by Taylor Williams

MIDDLETOWN, DEL. — Sprouts Farmers Market has opened an 23,000-square-foot store in Middletown, located north of Dover near the Maryland-Delaware border. The store is located at 431 Middletown Warwick Road and is the second in Delaware for the Phoenix-based grocer. About 80 people are expected to work at the store on full- and part-time bases.

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DelawareLeasing ActivityNortheastOffice

PNC Bank Signs 32,530 SF Office Lease Renewal in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — PNC Bank has signed a 32,530-square-foot office lease in Wilmington. The space is located within the lender’s namesake building in the downtown area. John Kaczowka of CBRE represented the landlord, Douglas Development, in the lease negotiations. Tom Coyne of Fidelity Commercial represented PNC Bank, which occupies the 15th and 18th floors.

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DelawareIndustrialLeasing ActivityNortheast

Law Firm Signs 13,918 SF Office Lease in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — Law firm Heyman Enerio Gattuso & Hirzel LLP has signed a 13,918-square-foot office lease in Wilmington, Del. The space is located within PNC Bank Center in the downtown area. John Kaczowka of CBRE represented the landlord, Douglas Development, in the lease negotiations. Cindy Fleming of JLL represented the tenant, which is taking space on the ninth floor of the newly renovated building.

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DelawareDevelopmentIndustrialNortheast

Davis, J.G. Petrucci Underway on 361,700 SF Industrial Project in Bear, Delaware

by Taylor Williams

BEAR, DEL. — A partnership between two regional developers, The Davis Cos. and J.G. Petrucci Co., is underway on construction of a 361,700-square-foot industrial project in Bear, about 45 miles southwest of Philadelphia. The site at 710 American Blvd. spans 28 acres and offers proximity to U.S. Route 40, 1-95, I-295 and the New Jersey Turnpike. The development will feature a clear height of 30 feet, 68 overhead loading dock doors, two drive-in doors, 3,150 square feet of office space and parking for 250 cars and 50 trailers. Construction is slated for a third-quarter 2025 completion.

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