CBRE announced eight lease transactions in excess of 80,000 sq. ft. of new, expanded and renewed office leases at the PNC Bank Center located at 222 Delaware Avenue in Wilmington.
The new tenants at the building include Hyundai Translead and Edelstein Martin & Nelson, while Fish & Richardson, Eckert Seamans Cherin & Mellott, Polsinelli, Seitz Van Ogtrop & Green, and Brewhaha all signed lease renewals. The law firm of Wilson Sonsini Goodrich & Rosati signed a renewal/expansion and will now occupy 24,180 square feet.
CBRE Senior Vice President John Kaczowka represented the property’s landlord, Douglas Development, during the lease negotiations.
“We are thrilled that these eight tenants have decided to sign, renew and expand their leases at this premier Class A facility, especially during these unprecedented times in our industry,” said Kaczowka. “Ownership is investing in several capital improvements that include a 4,000 sq. ft. state-of-the-art fitness center, modernization of the elevators, a new conference center and upgrades to both the common areas and restrooms.”
This announcement comes approximately one year after PNC Bank renewed and expanded their lease in the building. PNC has been a tenant at the property since the building opened in 1987.
Built in 1987, PNC Bank Center is a Class A, 273,374 square foot office building located in the heart of downtown Wilmington. It provides amenities within the building such as six levels of parking and several retail establishments such as Brew Ha Ha and Morgan’s of Delaware. The building is currently home to an array of prestigious law firm tenants, among others.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue).
Douglas Development, a real estate developer in the Washington, DC area, has added PNC Bank Center to its portfolio.