Potter Anderson & Corroon LLP Extends Lease at Hercules Plaza
Potter Anderson & Corroon LLP has extended its lease with McConnell Johnson Real Estate, a Wilmington-based real estate company, through 2028 at the Hercules Plaza building, 1313 North Market Street in Wilmington, Del. Under the terms of the extension, the firm will occupy up to 90,000 square feet of the building over the term of the lease.
“The extension of our lease will resolve any concern we might have had about our ability to accommodate our continued growth in this location,” said Donald J. Wolfe, Jr., chairman of Potter Anderson. “We carefully evaluated a range of alternatives and determined that the opportunity for contiguous growth in our current space offered the best solution to our anticipated needs. We look forward to continuing to serve as a cornerstone for the ongoing development in this part of downtown Wilmington.”
The 1313 North Market Street building is a 12-story, 520,000 square foot office building located on the 300-acre Brandywine Park. As part of the transaction, McConnell Johnson will provide extensive upgrades to the building, including renovation of its unique and expansive atrium area, as well as increased tenant parking.
“We envision the Hercules Plaza building creating a new excitement in the area of Market and 13th. Our plans include the creation and landscaping of a joint plaza with our neighboring second property, 1201 Building North Market Street, as well as increased retail space," said Paul McConnell of McConnell Johnson Real Estate.