Chemours to sell and leaseback hq
USA: Chemours is to sell its historic home – the DuPont Building in Wilmington – and lease it back as a long-term tenant.
The refrigerant manufacturer had considered moving from Wilmington and the 108-year-old, 13-storey DuPont Building which it inherited in 2015 following its spin-off from DuPont.
The sale to the Buccini/Pollin Group, a privately-owned property management company, sees the the DuPont building remaining as the Chemours world headquarters and preserves the 700 employees jobs in Wilmington.
“We followed a disciplined process deciding where to locate our headquarters,” said Chemours president and CEO Mark Vergnano. “We evaluated a number of locations against a range of criteria, including convenience of our current employees, our future workforce needs, and the fiscal impact on the company. Ultimately, our decision to stay in our current building satisfied all of those considerations.”
The DuPont Building was one of the first high-rises in Wilmington, Delaware. The original building was constructed in 1908 and was expanded into a U-shape in 1913. The DuPont Playhouse theatre was added at that time and part of the original building was converted into the Hotel DuPont. Both enterprises continue in the iconic building.