WILMINGTON, Del. (News release) - Solenis announced that it has signed a long-term agreement with Brandywine Investment Group II, LLC, an affiliate of Delle Donne & Associates, Inc., to lease approximately 90,000 square feet of office space in the new Avenue North complex in Wilmington, Delaware. The new office space will serve as the company's global headquarters, replacing its current location on Beaver Valley Road.
Located at the intersection of Concord Pike and Powder Mill Road in Wilmington, Avenue North was acquired by developer Ernest F. Delle Donne through an affiliated LLC in June 2017. Delle Donne & Associates, Inc. is currently planning to develop the site as an upscale, mixed-use campus combining office, commercial, residential and hotel uses. Upon its completion, Avenue North will contain approximately 2,000,000 square feet of leasable space.
Specific terms of the lease were not disclosed, but Solenis will lease the entire Pavilion Building, formerly known as the Fairfax Office Pavilion, or FOP Building, which will be retrofitted to accommodate the company's long-term space needs.
Committed to remaining in Delaware, Solenis expects to relocate to its new corporate headquarters sometime in the first quarter of 2020, initially with more than 200 employees. Executives, global managers and departments, such as human resources, marketing, IT and customer service, will reside in this location. The $3 billion specialty chemical company employs over 5,200 professionals in 120 countries spanning five continents. On January 31, 2019, Solenis and BASF completed a transaction to combine their paper and water chemicals businesses, which will operate under the Solenis brand.
Solenis Senior Vice President and Chief Financial Officer Philip M. Patterson, Jr. said, "Solenis is in a growth mode and we are working to retain, recruit and add employees to enhance our value proposition and better serve our customers. Our roots are here in Delaware and we are excited about continuing to grow here."
Solenis worked with the Delaware Prosperity Partnership (DPP) over the course of one year. Under the leadership of Kurt Foreman, DPP was instrumental in helping Solenis solidify its decision and commitment to remain in Delaware after a multi-state evaluation. Solenis received performance-based grants from the state of Delaware's Strategic Fund for job creation, job retention and capital expenditures.
"The Solenis headquarters will add to the synergy of the live-work-play environment created at Avenue North," said Gary M. Ciaffi, president, Delle Donne & Associates. "We are truly excited to integrate Solenis as a tenant within our project."