top of page
  • Writer's pictureMAREJ

Commercial Development Company announces the sale of 28 acres to First Industrial Realty Trust


Claymont, DE – Commercial Development Company, Inc. (CDC) announced the sale of 28 acres to First Industrial Realty Trust on which the REIT will construct a 358,000 s/f industrial distribution facility to be located within the “First State Crossing” development in Claymont.

“We understand there is high-demand for ready-to-occupy logistics facilities, and we are pleased to work alongside First Industrial to bring this project to Claymont. It is a welcome kick-off to the First State Crossing masterplan,” said Stephen Collins, executive vice president at CDC.

The 358,000 s/f rear-load facility will feature 68 dock door positions, parking for 241 trailers and 40 ft. clear height. The building’s flexible design positions First Industrial to accommodate supply chain requirements for a single tenant or multiple users across a range of industries.

“The I-95 Corridor is a critical distribution corridor and Northern DE, as part of the greater Philadelphia industrial market, has seen strong tenant demand due to its infill location and favorable business climate,” said John Hanlon, executive director for First Industrial. “Our project offers efficient highway access to I-95 and I-495 and a strong local labor pool. We are excited to bring this state-of-the-art facility to serve businesses in this high barrier market.”

The facility will be located on the site of the former Evraz Steel Mill adjacent to I-95 and I-495.

CDC purchased the retired Evraz Steel Mill in 2015 with plans to establish a mixed-use project on the 425-acre site. The first step was to relocate Claymont Transit Center to anchor the redevelopment. The $70 million transit center will be the busiest in Delaware with 44 trains per day. Claymont Station will open in August 2023 and will connect First State Crossing to Greater Philadelphia with express trains to 30th Street Station in just 25 minutes.

First State Crossing is now projected to include 700,000 s/f of industrial, 500,000 s/f of office, 50,000 s/f of retail, and 1,200 apartments and townhomes.

The value of the project is expected to exceed one billion dollars in construction costs and will represent the largest economic development project in the state, according to Brett Saddler, executive director of the Claymont Renaissance Development Corporation.

Comments


bottom of page