PNC Bank Center occupancy rate nears 91%

CBRE’s John Kaczowka represented owner , Douglas Development in the lease negotiations.

“Fully renovated from the ground up just three years ago, PNC Bank Center continues to experience tremendous leasing activity,” said Kaczowka. “Office tenants are attracted to the property’s strategic downtown location in Wilmington's Central Business District as well as the hands-on ownership.”

“We are thrilled with the response by the market since completing a major capital improvements campaign,” said Norman Jemal of Douglas Development. “Tenants have been very positive about our new elevators, commons areas, state-of-the-art fitness center, conference center and parking garage."

Among the largest recent deals completed was an 11,505 sq. ft. lease for part of the 10th floor by the  national law firm Ballard Spahr in a transaction represented by Cushman &Wakefield. Ballard Spahr represents clients across industries in litigation, business transactions, finance matters, intellectual property, and real estate. 

Multinational law firm Wilson Sonsini Goodrich & Rosati, expanded its presence at the property, taking an additional 7,336 sq. ft. of space on part of the 9^th floor. Wilson Sonsini was represented by Washington Realty Group/Gola Corporate Real Estate in the lease negotiations.

The  law firm Scott + Scott with eight offices in the U.S. as well as in Canada, the UK, the Netherlands, and Germany inked a 5,492 square-foot lease expansion on the 14th floor in a deal arranged by JLL on behalf of the practice.

PNC Bank Center has  lobby and retail stores on the ground level and  a six-level parking garage for 536 vehicles.

The Class A property is also one block from the Hotel DuPont, Sheraton Suites Hotel, Courtyard Hotel, and the Playhouse Theatre.