JPMorgan Chase has no immediate plans for newly acquired downtown lot

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JPMorgan Chase has confirmed the purchase a 1.6 acre-tract at Second and King streets on the south end of downtown Wilmington

JPMorgan Chase spokesman Paul Hartwick, in confirming the sale of the tract, said the company has no immediate plans for the property, which will continue to be used for parking.

The site was sold by Brandywine Realty Trust for a reported $6.5 million. Brandywine had long proposed an office high-rise at the site that would have completed the Christina Gateway development.

Hartwick noted that the sale gives the company control of a city block in downtown that includes two office towers and the former First Chicago credit card building.

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JPMorgan Chase operates its Chase credit card headquarters at the one-square-block site.

The company has plans to add 1,800 employees in coming years, a strategy that would seem to call for additional office space.

The financial services giant also plans to renovate its properties, including the two office towers, which are more than two decades old.

JPMorgan Chase also has indicated it will spend $150 million to $300 million on capital improvements, a figure that would allow for a project at the site.

At the same time, the company has other available sites, including the newly opened technology hub near Wilmington that formerly housed the AstraZeneca South Campus.

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