Newmark arranged a 61,662-square-foot renewal for Deluxe Corporation, a Minnesota-based American payments and business technology company, for its existing space at 400 White Clay Center Drive near Newark.
The tenant renewed its lease a few months ahead of expiration and secured a medium-term lease.
Newmark Senior Managing Director Wills Elliman worked on behalf of the tenant.
“In understanding our client’s requirements, specifically the key drivers behind their decision to remain at White Clay Center given the building’s proximity to its employee base and existing infrastructure, both of which are integral to its business operations–we worked diligently to secure favorable renewal terms,” said Elliman. “We congratulate Deluxe Corporation on closing this transaction and look forward to their continued success in the space.”
Totaling 476,000 square feet, the White Clay Center comprises seven buildings, a mix of office, flex and industrial buildings. The office is near the University of Delaware’s main campus and amenities, giving the tenant ideal positioning for recruiting and retaining talent.
Deluxe Corporation has four business divisions comprising payments, cloud, promotional products and checks. As of 2020, the business had 4.5 million small businesses and 4,000 financial institutions as customers–providing services such as producing personal and business checks, marketing, web development, web hosting and fraud protection services.
The tenant was originally known as First Data and was located in the Bellevue Park Corporate Center in north Wilmington. In 2010, the company relocated to White Clay Center.