2 Million Square Foot Industrial Development Plan Pending
June 12, 2019 [New Castle, DE] – Colliers International’s Logistics and Transportation Solutions team of Mark Chubb, Michael Zerbe and Summer Coulter has successfully sold a strategic east coast land site, a 190 acre parcel of industrially zoned land, on behalf of Akzo Nobel to Kansas City based Northpoint Development.
The site is located at 1386 Schoolhouse Road in New Castle, Delaware and is predominantly farmland with a small previously developed portion historically operated on by Stauffer Chemical. It will be redeveloped by Northpoint as “Delaware City Logistics Park” (DCLP), featuring four industrial buildings totaling over 2 million square feet of modern distribution and fulfillment space.
“This site fielded great interest as one uniquely capable of accommodating modern/ bulk industrial development and ability to service the needs of fulfilment, distribution and e-commerce users with a nearly equidistant central location to New York and Washington D.C. – and it is just 40 miles from Philadelphia. This means it can service millions of customers in the Northeast, Mid-Atlantic and beyond - approximately 43% of the US and 53% of the Canadian population reside within a day’s truck drive.” said Mark Chubb, Senior Managing Director of Colliers International. “It’s also well-known Delaware is a business-friendly state with low operating costs and taxes and that local and state governments are supportive in the attraction of new business.”
“We saw this property as a unique opportunity to capitalize on the positive momentum of the regional market and the limited supply of sites to accommodate large scale development. The strategic location and access to a plentiful and capable workforce provides a terrific opportunity for the modern industrial occupiers whose demands we are building to meet.” said Johan Henrikson, Vice President of Development with Northpoint.
The move represents Northpoint’s first investment in Delaware. The firm has been incredibly active throughout the United States with 13.3 million square feet of industrial space currently under construction and 11.7 million square feet leased in the past year. Industrial clients of the development group include Amazon, The Home Depot, Staples, Chewy.com and Patagonia.
The Colliers Logistics Team has been retained to exclusively represent Northpoint in the marketing of Delaware City Logistics Park for lease. Inquiries from interested parties can be directed to the project brokers:
Senior Managing Director
+1 610 684 1853
Senior Vice President
+1 610 684 1861
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.