CBRE announced today that it had successfully represented DuPont Transportation & Advanced Polymers (DuPont), a DowDuPont Specialty Products Division business, and arranged the acquisition of a 120,000 square-foot industrial facility located at 322 Ruthar Drive in Newark, Delaware. DuPont recently acquired the property and plans to relocate the manufacturing and employees from the current location at Tralee Industrial Park within the next 18 to 24 months. The company then plans to sell the current building once the move has been made.
DuPont has committed to invest $45 million in the new facility, which will increase its manufacturing capacity for DuPont™ Kalrez®, a specialized engineered material used in a variety of sealing applications that require high-temperature performance and excellent chemical resistance. The new facility, which is double in size, will allow manufacturing of Kalrez® parts to keep up with projected business growth.
CBRE’s Daniel Reeder and Brian Hopkins represented DowDuPont during the sales negotiations. CBRE has been representing DuPont in the state of Delaware for more than 25 years.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
