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N. Delaware State Of The Market

An In-Depth Look at the CRE Market, Local Economy, & More

Event Ended On: Thursday January 30 2020

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Event Host

Events Raw Space

76ers Fieldhouse

The 76ers Fieldhouse is a 2,500-seat multi-purpose arena and sports complex in Wilmington, Delaware, United States. The arena, home to the Philadelphia 76ers NBA G League team the Delaware Blue Coats, hosted its first game on January 23, 2019. Construction on the remainder of the complex was completed in April 2019

Speakers and Panels

State Of The Economy And CRE In N. Delaware

Major Developments and Trends Impacting the Market

Hughlett Kirby

Hughlett Kirby

Vice President, Cinnaire Corporation
Jamie Vari

Jamie Vari

EVP, JLL

Keynote With Mayor Purzycki

Michael Purzycki
Keynote

Michael Purzycki

Mayor, City of Wilmington

Venue

76ers Fieldhouse
401 Garasches Ln
Wilmington, DE 19801

Get Directions

Agenda

Time Activity
7:30 AM
8:30 AM
Coffee, Breakfast, & Networking!
8:30 AM
8:50 AM
Keynote With Mayor Purzycki
8:50 AM
9:50 AM
State Of The Economy And CRE In N. Delaware
Major Developments and Trends Impacting the Market
9:50 AM
10:30 AM
More Networking!

Summary

  1. With Bank of America moving out of Bracebridge I & III, office vacancy rates have gone from 16.1% to 23%. What tenants would be able to take such a large amount of office space?
  2. Hundreds of affordable and market-rate housing units, a food hall and a new hotel have hit downtown Wilmington. Will this economic boom bring a younger demographic to the city?  
  3. Similarly to Philadelphia, Wilmington has a wage tax, as well as a headcount tax. With affordability being a big selling point for Wilmington, should the city look to re-do their tax code to help attractbusiness?
  4. Newark has heated up in recent months with five properties being sold for over $100 million. What has caused outside money to be so bullish on Newark?
  5. Class-A office space is on average $6 cheaper per SF in Wilmington than Philadelphia. What is helping to draw companies to Wilmington besides price?