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Dermody Acquires Share of Redevelopment at Delaware GM Site
Dermody Properties will partner with Harvey Hanna & Associates on the latter’s redevelopment of the former General Motors (GM) plant in Wilmington, DE. Dermody acquired 88 acres of the 142-acre property on Boxwood Road for the project, to be named LogistiCenter at I-95 Wilmington. Harvey Hanna will retain ownership of the remaining 54 acres.
“Harvey Hanna’s ultimate goal for the former GM plant property has always been about one thing: returning long-term, sustainable jobs to Wilmington and New Castle County,” said Thomas J. Hanna, president of Harvey Hanna. “By working with a respected, experienced and best-in-class national developer like Dermody Properties, we are ensuring that a truly first-class business and distribution campus will rise in its place.”
Oversight of work on LogistiCenter at I-95 Wilmington will be helmed by leadership based at Dermody’s Morristown, NJ office under Eugene Preston, East region partner, who cited the “limitless potential” of the site.
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