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Commercial Real Estate News

Central Business District has best quarter in a decade


The commercial real estate sector in Wilmington’s Central Business District performed very well in the second quarter, showing the lowest level of office vacancy since before the recession, according to CBRE.

It recorded 1926,289 square feet of occupancy gains, which is the highest figure in more than a decade. The total vacancy rate still stands at 19.3 percent.

The largest transaction was Capital One’s 90,000-square-foot lease at 800 Delaware Avenue.

The average asking lease rate is $25.26 per square foot, and the average ask for Class A buildings is $27.44.

Photo via Flickr user Edward Weston


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