Wills Elliman - Wilmington Commercial Real Estate Expert

Wills Elliman - Wilmington Commercial Real Estate Expert Newmark Knight Frank provides client-focused real estate advisory services through intellectual capital and world-class resources.

Could anyone embody the phrase "As Goes Wilmington, So Goes Delaware" more than former Governor and current Wilmington M...
06/15/2026

Could anyone embody the phrase "As Goes Wilmington, So Goes Delaware" more than former Governor and current Wilmington Mayor John Carney?

After all, he has led Delaware from both the state level and now from City Hall.

The good news?

Wilmington is stronger than many people realize.

Speaking at the New Castle County Chamber of Commerce Mayoral Luncheon, Mayor Carney shared a message that was both simple and important:
Wilmington's future depends on strong partnerships among government, employers, nonprofits, and the people who show up every day to do the work.

Three takeaways stood out:

……….• Investment is working. More than $1 billion in private investment has followed public investment, transforming neighborhoods, housing, education, and the Riverfront.

……….• Employers matter. More than 42,000 people come to work in Wilmington every day. Those jobs support families, fuel small businesses, and help keep the city financially strong.

……….• Public safety drives everything. Attracting companies, retaining talent, and strengthening neighborhoods all start with people feeling safe.

As someone who spends every day helping companies evaluate location decisions, I left encouraged.

Wilmington certainly has challenges. Every city does.

But it also has momentum, committed leadership, significant investment, and a growing list of wins.

What do you believe is Wilmington's biggest opportunity over the next five years?



Yvonne Deadwyler, Renata Beata Kowalczyk, Jordan D. Spencer, Anthony Lunger, Dave Tiberi, Michael Vanderslice, Rick Deadwyler, Jeanne Kress

Delaware lost one of the most consequential civic leaders in modern Wilmington history.  Former Wilmington Mayor Mike Pu...
05/20/2026

Delaware lost one of the most consequential civic leaders in modern Wilmington history.


Former Wilmington Mayor Mike Purzycki passed away at age 80.


His fingerprints are everywhere across Wilmington.

• Wilmington Riverfront transformation

• Economic development momentum

• Downtown investment growth

• Public/private collaboration

• A renewed belief in Wilmington’s future


Before serving two terms as mayor, Mike helped turn the Wilmington Riverfront

from overlooked industrial land

into one of Delaware’s defining redevelopment success stories.

That transformation changed how people viewed Wilmington, including residents, developers, employers, and investors.

Mike was never short on energy, opinions, or conviction.

Agree or disagree with him, he cared deeply about Wilmington and pushed relentlessly for progress.

Few leaders leave behind visible proof of their work.



Mike did.



Our thoughts and prayers are with his wife Bette, his family, friends, colleagues, and the many Delawareans whose lives he impacted.


What do you believe was Mike Purzycki’s most lasting contribution to the city?

When you were 15, could you have survived in Europe for 9 months on $35 and five rolls of film? I did. So did those in t...
05/13/2026

When you were 15, could you have survived in Europe for 9 months on $35 and five rolls of film?

I did.

So did those in the upper-right-hand picture.

Why?

We all attended The Flint School.

We all lived on the same $35 and five rolls of film.

We experienced the world directly rather than through consumption, distraction, or documentation.

From August 1980 in Monte Carlo through May 1981 in Copenhagen, we navigated not merely heavy seas, but assumptions.

One memorable day included morning water skiing (fresh snow in the French Alps as a backdrop), then visiting Napoleon’s exile home on Elba that afternoon.

We learned celestial navigation, self-reliance, discipline, and perspective.

Some pictured stayed as long as four years, including Chris Brownell, who started at age 10!

We stood watch every other night. Mine was 1:30 AM to 3:00 AM.

This past weekend, this group of alumni reunited aboard Te Vega in her current incarnation as a beautifully restored private yacht in Valencia, Spain owned by British businessman Dean Gregory.

We were also joined by Jim Stoll. Jim, with his parents George and Betty Stoll founded the Flint School.

While Dean and Jim were in the picture, they were not Flint School students.

What struck me most was realizing how little we had, yet how rich the experience.

$35 taught us resourcefulness.

5 rolls of film taught us selectivity.

The sea taught us humility.

We emerged older than our years, yet permanently young at heart.

The Flint School about Te Vega taught us that adventure and education need not be separated.

What experience when you were young most transformed the way you see the world?

Christopher Brownell, Joe Enberg, Palmer Stevens, Phil Shatz, William Rayner, Andrew Marsh, Will T.

Where innovation meets infrastructure.Today at the Delaware’s DNA | 2026 Life Science Conference, the energy is unmistak...
04/30/2026

Where innovation meets infrastructure.

Today at the Delaware’s DNA | 2026 Life Science Conference, the energy is unmistakable.

Biomanufacturing is scaling—and Delaware is leaning in.

AI is no longer theoretical—it’s driving real healthcare outcomes.

Innovation is moving faster when capital, talent, and policy align.

From the floor at the Chase Center on the Riverfront—this isn’t just a life science conversation, it’s a commercial real estate demand story: lab, flex, and advanced manufacturing space.

Strong leadership presence as well, including remarks from Gov. Matthew Meyer, reinforcing Delaware’s commitment to growth in this sector.

Delaware continues to punch above its weight.

What was your biggest takeaway?



Mike Wojewodka, Phil Butler Sr., Russell Peskin, Amos Wampler, Jeremy Ahlrich, Nicole Merli, Michael Fleming, John Himics

04/29/2026

One deal reset Wilmington’s office market overnight… but most people are reading it wrong.

Here’s what actually happened in Q1 2026


• A 260,000 SF fully vacant Class A building at 3 Beaver Valley Rd traded to Wilmington University

• Vacancy dropped from 19.1% → 17.7% (-140 bps)

• Asking rents fell from $31.50 → $26.14/SF (-440 bps)


Now the part that matters:

• Class A still commands a $5.26/SF premium

• Only two Class A blocks >100,000 SF remain

• Demand for quality space hasn’t blinked


The takeaway most are missing:

• One large trade can distort vacancy and rent metrics

• Scarcity at the top end is still real

• If you’re relying on averages alone, you’re mispricing decisions

This is where markets get interesting… headlines say one thing, reality says another.

Curious… are you seeing the same disconnect between “reported” numbers and what’s actually happening on the ground?

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Wilmington, DE
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