Horsham-based MRA Group, a real estate solutions firm, recently announced it intends to purchase DuPont’s Chestnut Run Laboratory in Wilmington, Del., for redevelopment.
MRA Group plans to redevelopment the 800,000-square-foot campus into a multitenant, life science, chemistry, technology, and advanced materials campus.
“We are excited to work with DuPont, the City of Wilmington, County of New Castle, and the State of Delaware to reinvigorate the property’s robust history while leveraging Delaware’s entrepreneurial spirit,” Mike Wojewodka, MRA Group executive vice president, said. “It’s our goal to reposition the property into Delaware’s premier innovation destination that will help to attract, retain, and grow businesses here in Delaware. Ultimately, we recognize that our ambitious plans must be aligned with the community’s vision, and as such, we are committed to working with leadership officials to ensure what we create in Wilmington will be an asset for generations to come.”
DuPont will continue to be a tenant in several of the buildings following the closure of the deal.
The deal is expected to close by the third quarter.
Founded in 1991, MRA Group services the life sciences, healthcare, and higher education sectors. It has more than 4.5 million square feet of medical, life sciences, and office real estate under management.