Category: Commercial Real Estate

Gov. John Carney and members of the General Assembly marked the first phase of renovations at the Carvel State Office Building in Wilmington with a ribbon cutting event on October 1. “The Carvel State Office building serves as the state’s primary administrative operations hub in Wilmington. Over one thousand individuals enter the Carvel State Office…

Deep Dive Delaware: Neighborhood Revitalization

REACH Riverside has partnered with Atlanta-based Purpose Built Communities to bring radical, systemic change to Wilmington’s Riverside neighborhood. REACH Riverside is implementing a model that offers a three-pronged approach to change with high-quality mixed-income housing; a cradle-to-college education pipeline; and community wellness programs. According to REACH Riverside, the neighborhood today has 70% of children living…

The Community Education Building (CEB) — the former MBNA headquarters turned home base for education nonprofits and charter schools — is building a playground that will serve the students of Kuumba Academy Charter and Great Oaks Charter School. The playground will open Tuesday, September 9 at the corner of Walnut and 13th streets in Wilmington.…

By Ken Mammarella Clayton, Delaware City, Middletown and New Castle on Monday were designated Downtown Development Districts, joining Dover, Georgetown, Harrington, Laurel, Milford, Seaford, Smyrna and Wilmington. Private construction projects within these districts can receive rebates of up to 20 percent of their capital construction costs,from this year’s $8.5 million pool of state funding. “The…

The Wilmington Department of Licenses and Inspections has recommended that the City adopt the revised I.C.C. (International Code Council) 2018 code series, the latest version of a set of building code standards affecting residential and commercial properties. The International Code Council, an association with 64,000 members, updates the I.C.C. building codes every three years to…

A handful of high-profile vacancies have caused a dip in Wilmington’s office market, according to a quarterly report from Newmark Knight Frank. The vacancy rate rose from 14.3 to 16.6 percent, largely due to the long-anticipated withdrawal of Bank of America from Bracebridge I and III. One major occupancy in the suburban market helped to…

Newark sees uptick in commercial real-estate sales

The Newark commercial real estate market has heated up in recent months with five properties – three of them University of Delaware student housing complexes – and $105.7 million changing hands. Jenkintown, PA-based Galman Group bought the Park Place and Studio Green apartment complexes for nearly $41 million in May and will sink $30 million…

Three commercial properties just changed hands in the southwest corner of 4th and Market streets in downtown Wilmington. The third generation owners, Francis and Margaret Abessinio, sold 317 N. Market Street, 2 W. Fourth Street and 4 W. Fourth Street to the Buccini Pollin Group. Nearby neighbors include the New Castle County Courthouse, Delaware Technical Community…

Wilmington City Council on July 11 unanimously passed an amendment to the City Code that will allow Second Chances farm, LLC to open a vertical farm in Northeast Wilmington. The indoor farm will employ former state and federal inmates from Delaware and produce healthy vegetables for purchase within the community. Mayor Mike Purzycki’s Office has…