Transition from Single Tenant to Multi-Tenant: Delaware Developer’s Commitment is Paying Off
The Emory Hill Companies are experiencing strong leasing activity while wrapping up extensive renovations at Little Falls Centre I in western suburban Wilmington which will include world class amenities that, when added to its existing premier location and property features, will truly make it shine amidst the ever-evolving Delaware class A office market. The latest renovations were sparked by the departure of CSC (Corporation Services Company), a global firm that moved from Little Falls I into its own newly constructed North American HQ building which is virtually across the street from Little Falls Centre. Less than six months after the renovations began, more than half of the building has already been leased to several major tenants including Invista, the world's largest integrated fiber, resin and intermediates company with 10,000 employees in over 20 countries worldwide, and Cover + Rossiter, a local CPA firm. The Little Falls Centre campus is located on Centerville Rd. near Lancaster Pk. (Rte. 48) and encompasses two glass-ensconced, 100,000 s/f, four-story office buildings with scenic overviews of both the downtown Wilmington city skyline and the surrounding countryside. Built in 1987 with their serpentine-shaped granite and glass facades, marble lobbies and high-speed elevators, the original office buildings at Little Falls won several awards for their beautiful and innovative design and construction. Emory Hill, a full-service commercial real estate firm, immediately got to work planning an overhaul of the building with the help of local architects, Mitchell Associates. The newest amenities will include features that again break ground in the DE office scene including: a new kitchen and café with a coffee bar and self-serve food service; a newly expanded fitness center with upgrades such as a yoga room and new locker rooms; new restrooms; new common conference rooms with updated, state-of-the-art technology, acoustics, writeable surfaces, contemporary lighting and decor; and newly remodeled lobbies and common areas. The campus also features 700-plus free surface parking spaces and has approval for a parking garage with another 550 covered spaces and rooftop deck. Other amenities include public transportation access, on-site uniformed security officers, electronic key fob access and alarm monitoring, and the fact that there is no city wage tax. Other tenants at Little Falls include Morgan Stanley/Smith Barney, PNC, RBC Bank and Gunnip & Co. Current availability in Little Falls I includes +/- 50,00 RSF on the second, third and fourth floors and +/- +/- 3,485 RSF on the first floor at Little Falls II. Neil Kilian, CCIM, SIOR is a principal at NAI Emory Hill.