Pennsylvania developer completes purchase of DuPont’s Chestnut Run site

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MRA Group  announced the closing of their  acquisition of DuPont’s Chestnut Run Lab Campus at 984 Centre Road west of Wilmington.

MRA is moving forward with a  $500 million redevelopment plan.  Renamed Chestnut Run Innovation & Science Park (CRISP), the 163-acre campus contains approximately 780,000 square feet of existing lab, research, and manufacturing space.

Renovations will get underway  immediately, with the first reconstructed building to be occupied in late summer 2022, a release stated.  MRA disclosed that it is in active discussions with several life science and research companies. More information can be found on the campus website at www.crisp-campus.net

DuPont will continue to maintain its presence on the campus by leasing approximately 190,000 square feet in two buildings.  

(Rendering from MRA Group)

Chestnut Run Innovation & Science Park is four miles west of downtown Wilmington and just a quarter of a mile mile south of Barley Mill Plaza, which is being redeveloped with  110 residential units and commercial spaces, including the area’s first Wegmans supermarket. 

“We recognized the amazing potential for the campus to address the regional demand for market-ready life science and advanced manufacturing facilities, particularly when combined with its superior location along the I-95 corridor,” said Mike Wojewodka, MRA Group executive vice president and partner. “Northern Delaware is ideally positioned to emerge as a hub for life science, research & development, and pharmaceutical manufacturing companies. The deep pool of educated and experienced professionals is an incredible asset to any firm locating here.” 

Wojewodka  stated that that  the CRISP campus will further Delaware’s attractiveness to companies worldwide. Development plans include shared amenities to foster interaction and collaboration between tenants and the surrounding community.  

This is the third major campus redevelopment for MRA, having reinvented the 133-acre 600,000 square foot Spring House Innovation Park in Lower Gwynedd Township, PA, and the 137-acre, 800,000 square foot TEK Park in the Lehigh Valley, PA. MRA will utilize and enhance the existing infrastructure to create state of the art life science laboratories, scientific research facilities, and Class A office space. Campus amenities will include a hotel, a fitness center, conference space, an outdoor amphitheater, and accommodations for food services including restaurants and eateries. 

“We are excited to be back in Delaware with such an incredible opportunity, and grateful to be at the helm of such an impactful project,” stated MRA Group Founder and CEO Lawrence Stuardi. “Our vision for CRISP will set a new standard for innovative campus redevelopment in the region, as we believe it will become Delaware’s leading biotechnology and science hub, while also providing an engaging community experience.”

Wojewodka added, “As the current steward of the property, we will make it a priority to meet with members of the neighboring communities and discuss our vision for the future development of the campus, solicit their feedback and answer any questions that may arise.” 

MRA Group (MRA), based in Horsham, PA, is a privately-held, real estate firm servicing the life sciences, health care and higher education sectors.

MRA has more than 4.5 million square feet of medical, life sciences and office real estate under management, and has structured over $1billion  of financing.

Projects include Spring House Innovation Park, the Holy Redeemer Medical Building at 201 Veterans Way, Pennovation Lab at the University of Pennsylvania’s Pennovation Works Campus, TEK Park, Oxford Valley Medical Plaza and the St. Clair Medical Office Building at St. Mary Medical Center. 

In 2020, a letter of intent  between DuPont and Wilmington-based Delle Donne & Associates, a developer of the University of Delaware STAR Campus in Newark, was announced.  However, no agreement was reached.
 

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