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Wilmington Market Reports

Wilmington Office Market

Average Asking Rent (Price/SF) $26.05
Vacancy Rate (%) 16.6%
Net Absorption (SF) 21,548

Wilmington's office market accumulated approximately 22,000 square feet in net positive absorption during the third quarter of 2019, a modest recovery from last quarter, which experienced the largest uptick in vacancy in more than a decade. Significant tenant relocations within the suburbs dominated market activity: Invista's A&AT spinoff occupied 25,752 square feet at One Little Falls in Wilmington West and in Wilmington South, CAI relocated to 32,521 square feet at 700 Prides Crossing in Wilmington South; Comcast's 150,000-square-foot, state-of-the-art call center opened at 400 Commerce Drive, also in Wilmington South, where they consolidated existing operations from 4008 North DuPont Highway and 300 North Wakefield Drive.



Wilmington Office Market Report
3Q19
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