GLASGOW, DEL. — DuPont Semiconductor Technologies, a division of DuPont Electronics & Industrial, will undertake a $50 million industrial expansion project in the northern Delaware city of Glasgow. The 385,000-square-foot facility will be used for the fabrication, packaging and assembly of materials used in semiconductors that support numerous electronics-based industries. About 70 employees from DuPont’s existing facility in nearby Newark will staff the new plant along with 10 or so new hires. The company expects its new facility to be operational by the first quarter of 2024.
MIDDLETOWN, DEL. — Alcohol distributor Breakthru Beverage Group has opened a 282,500-square-foot distribution facility in Middletown, located in Delaware’s New Castle County. The facility features a clear height of 36 feet and a 29,350-square-foot, temperature-controlled room for cold storage, as well as 29,790 square feet of offices, training and break rooms. Lastly, the facility houses an experience center where clients can taste new products. MRP Industrial developed the project, with Ware Malcomb and Penntex Construction respectively serving as the architect and general contractor.
WILMINGTON, DEL. — Hospitality investment and development firm Driftwood Capital has completed a $31 million hotel in Wilmington that will be operated as a Staybridge Suites, which is part of the InterContinental Hotels Group family of brands. The 11-story, 134-room hotel offers a lounge, fitness center, business center, meeting and event spaces and a convenience mart. Whiting-Turner Contractor Co. handled construction of the project, which was designed by Dever Architects. First International Bank & Trust provided construction financing. Driftwood will manage the property.
WILMINGTON, DEL. — Hospitality investment and development firm Driftwood Capital has completed a $31 million hotel in Wilmington that will be operated as a Staybridge Suites, which is part of the InterContinental Hotels Group family of brands. The 11-story, 134-room hotel offers a lounge, fitness center, business center, meeting and event spaces and a convenience mart. Whiting-Turner Contractor Co. handled construction of the project, which was designed by Dever Architects. First International Bank & Trust provided construction financing. Driftwood will manage the property.
WILMINGTON, DEL. — 3650 REIT, a Miami-based direct lender, has provided an $85 million loan for the refinancing of WSFS Bank Center, a 371,000-square-foot office building in Wilmington, about 30 miles south of Philadelphia. Developed by Buccini/Pollin Group in 2006, the property serves as the corporate headquarters of WSFS Bank. David Strongwater of Lantern Real Estate placed the loan, which carries a 120-month term, with 3650 REIT on behalf of Buccini/Pollin.
DOVER, DEL. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of North Dover Center, a 191,973-square-foot shopping center in Dover. The property was built in 1989 and was 97 percent leased at the time of sale. The spaces of two of the original anchor tenants, Toys ‘R’ Us and Acme, have been backfilled by Hobby Lobby and Bob’s Discount Furniture in recent years. Staples and T.J. Maxx are the center’s other anchors. Brad Nathanson, Dean Zang and David Crotts of IPA represented the undisclosed seller and procured the buyer, Milbrook Properties, in the transaction.
MILLSBORO, DEL. — Ohio-based owner-operator Chase Properties has acquired Peninsula Crossing, a 334,000-square-foot retail power center located in the southern Delaware city of Millsboro. Lowe’s Home Improvement and PetSmart anchor the open-air center, which will soon be adding German discount grocer Aldi to its tenant roster. According to mallsinamerica.com, other tenants at Peninsula Crossing include Supercuts, Mattress Firm, AT&T, GNC and Burger King. The seller and sales price were not disclosed.
NEW CASTLE, DEL. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $138 million loan for the refinancing of a portfolio of 14 industrial properties spanning 2.2 million square feet in New Castle. James Conley and Neil Campbell of IPA arranged the loan through Barclays and Citibank on behalf of the undisclosed borrower.
NEWARK, DEL. — LaMotte Co., a Maryland-based provider of water-quality testing supplies, will open a 79,000-square-foot office and manufacturing facility at Pencader Corporate Center in Newark, Del. The company will immediately hire 50 people to staff the new facility and plans to employ more than 100 workers at the site within three years. In addition, LaMotte will invest $3.3 million in the interior build-out of its new space.
WILMINGTON, DEL. — MRA Group has acquired Chestnut Run Lab Campus, a 163-acre life sciences and manufacturing campus in Wilmington, from industrial engineering firm DuPont for an undisclosed price. MRA Group is underway on a $500 million redevelopment of the property, which is being rebranded the Chestnut Run Innovation & Science Park (CRISP). Located at 984 Centre Road, the development is currently home to 780,000 square feet of lab, research and advanced manufacturing space. Redevelopment plans for the campus include the addition of a hotel, fitness center, conference space, an outdoor amphitheater and restaurant space. The first renovated building is set to be delivered in late summer 2022. DuPont will continue to lease 190,000 square feet located across two buildings at the property. “We are excited to be back in Delaware with such an incredible opportunity,” says Lawrence Stuardi, founder and CEO of MRA Group. “Our vision for CRISP will set a new standard for innovative campus redevelopment in the region, as we believe it will become Delaware’s leading biotechnology and science hub.” Delaware has the fourth-highest concentration of science, engineering and health employees with doctor of philosophy (Ph.D.) degrees in the nation, according to MRA. The CRISP campus marks …