Category: Commercial Real Estate

Investors buy Dover medical center for $36M

DOVER – A joint venture of investors has acquired the Eden Hill Medical Center for more than $36 million, according to county land records. The Class A, three-story medical office building at 200 Banning St. was purchased Oct. 31 by a venture that includes MedProperties Realty Advisors LLC, Capital Security Advisors and Physicians Realty Trust.…

Buccini/Pollin to build $200M Pittsburgh office tower

PITTSBURGH – The Buccini/Pollin Group (BPG), a Wilmington-based real estate development and management company, announced plans Tuesday, Jan. 7, to build a roughly 40-story office tower on the former site of the Pittsburgh Civic Arena. BPG has been branching out from its Wilmington home in recent years as it looks for investment and development opportunities…

Dot Foods approved for $150K NCC tax break

BEAR – The New Castle County Council approved a five-year tax incentive deal worth up to $150,000 for Dot Foods, which is building a $36 million distribution center in Bear that is set to open early next year. Ordinance 19-115, sponsored by councilmen Bill Bell and George Smiley, provides a property tax exemption for a…

Target coming to Prices Corner shopping center

WILMINGTON – Target has announced that it will open a new store at the Prices Corner Shopping Center off Kirkwood Highway, filling the space left vacant by the closure of the longtime Sears location in 2018. The national retail giant added the Prices Corner store, located at 3140 Kirkwood Highway, to its list of future…

Incyte to buy Friends school campus for $50M

WILMINGTON – The pharmaceutical research company Incyte Corp. is seeking to expand its Alapocas campus after reportedly entering into a $50 million sale agreement for the lower school campus of the nearby Wilmington Friends School. School board chairwoman Susan Kelley and head of school Ken Aldridge detailed the agreement reached in October for the 20-acre…

Redevelopment plan for former Claymont steel mill detailed

CLAYMONT – The public got its first up-close look at the updated redevelopment plans for the 425-acre former Evraz steel mill on Dec. 3. More than 100 residents came out to the meeting hosted by the Claymont Renaissance Development Corp., a public-private nonprofit tasked with fostering the revitalization of the north Wilmington unincorporated community, and…

Developer: Boxwood project expects 1K+ jobs

WILMINGTON – Neighbors of the former GM Boxwood plant got a sneak peek at the huge, five-story e-commerce distribution center planned for the site in an unusual meeting Thursday, Nov. 21. A team of a lawyer, developer, engineers, architects and an environmental remediation expert representing the project’s developer, Nevada-based Dermody Properties, testified before the New…

Despite high vacancy rate, brokers bullish on Wilmington

WILMINGTON – Although about a quarter of the city of Wilmington’s office space is currently sitting vacant, brokers believe there are reasons to be optimistic about the city’s commercial real estate future. Panelists at the fourth annual Delaware Commercial Real Estate Forecast Conference, hosted by the Mid-Atlantic Real Estate Journal on Nov. 6 at the…