JLL and KRM Development are marketing a 70,000-square-foot spec building with the option of expanding up to 140,000 square feet at the Duck Creek Business Campus.
The campus also offers various lot sizes available for build-to-suit opportunities.
KRM is based in Chestertown, MD has two million square feet of space on the Eastern Shore and other locations in its inventory.
The campus is on 211 acres between Route 1 and Highway 13 on the northern edge of Smyrna and the southern edge of New Castle County.
The Duck Creek Business Campus is the first large-scale flexible development project in the Smyrna area.
The building provides prospective tenants with 20 dock doors and seven drive-ins. Spec buildings have been rare in Delaware. However, interest in distribution centers in Delaware has grown, with the trend moving into high gear as Amazon expanded in New Castle County.
Smyrna is no stranger to distribution centers, with Walmart operating a massive site for decades.
“This property provides a great customizable opportunity for warehouse or manufacturing users, along with the ability to accommodate medical and office users,” said Jamie Vari, JLL executive vice president. “With KRM’s longevity in the industry along with its attention to excellence, we believe that Duck Creek will bring a new benchmark of quality to the market. The site will attract regional attention, and the community will experience vibrancy and influx of business activity that hasn’t previously existed in this area.”
At the end of the first quarter, nearly 5.2 million square feet of space was under construction in Delaware, all of which is pre-leased to a single tenant (Amazon). As a result, class A vacancy rates have fallen to a record low of 3.5 percent in Delaware.
“The Duck Creek Business Campus brings much-needed new construction and Class A flexible space to the area that will appeal to users across all industries,” said Jesse Parks, KRM senior vice president of development. “We are estimating the campus will draw up to 4,000 jobs and $477 million in economic development, creating a positive impact for the town of Smyrna. This campus will not only attract new businesses to the area but new community members as well.”
KRM is projecting the property could be finished with a footprint of up to 2 million square feet. Further information is available from Vari.