1220 N Market St
Wilmington, DE 19801

"This Property is currently under contract and the seller is considering backup offers. 1220 N Market St (the ""Property"") is a 98,970 SF ten (10) story building opportunity at 1220 N. Market Street, Wilmington, DE. The Property is a 98,970 SF mid-rise tower in Wilmington's CBD. The 10-story building has traditionally been a multi-tenant office property, but stands ready for its next phase. Built in 1985, the Property underwent various renovations in the mid-2000s. The Property benefits from a recent tax stipulation that substantially reduces the taxable assessment effective for all future fiscal years going forward - see the vault for additional information. The Property features an efficient floor layout with large, unobstructed 360-degree window views and an Energy Management System for HVAC controls as well as on-site security. The asset is adjacent to the Hercules Plaza, 1201 Market and Bank of America and is two blocks from Rodney Square and The Hotel DuPont. Public and Private parking facilities are located within line of site of the subject offering. This is an opportunity to buy a structure with unlimited possibilities at a cost well below replacement. The Property is located in the City of Wilmington Downtown Development District. By leveraging state resources, strategically deploying local incentives, and coordinating the efforts of many organizational partners, Wilmington's Downtown Development District will stimulate private investment and create a flourishing downtown area with equally attractive neighborhoods that are even more physically connected and represent a true live/work/play destination. Click here for more information about the Downtown Development District 1220 Market Street also benefits from being in a Federal Opportunity Zone which is a new program under the Tax Cuts and Jobs Act. The US Department of Treasury and IRS describes the program’s benefits as follows, ""Qualified Opportunity Zones retain this designation for 10 years. Investors can defer tax on any prior gains until no later than December 31, 2026, so long as the gain is reinvested in a Qualified Opportunity Fund, an investment vehicle organized to make investments in Qualified Opportunity Zones. In addition, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold.""Click here for additional information. Wilmington is strategically located approximately mid-point between New York and Washington. Philadelphia's International Airport, the Greater Wilmington Airport, and Amtrak's main east coast line provide national and international accessibility. Three major interstate highways, excellent state highways and scenic U.S. routes link Wilmington to the entire east coast. One third of the nation's population and income is within a 350 mile radius of the City. Wilmington is home to more than 72,000 people of diverse backgrounds. Efficient mass transportation, ample parking and a dynamic environment for more than 40,000 workers who live, work and play downtown, are evidence of the City's rebirth. A number of public/private partnerships have contributed to an outstanding growth record. Wilmington’s resurgence is well underway and a new extremely business friendly administration has taken over the helm of the city to be a further catalyst to that growth."