According to Avison Young, Hub International Limited (Hub), a leading global insurance brokerage firm, has completed a 34,400 s/f office lease renewal at 299 Ballardvale St. The Avison Young team of Keith Gurtler, Mark Coelho, and Colin Whitney represented the landlord and asset manager, General Electric Credit Equities, Inc. and Paradigm Properties, LLC. Newmark Knight Frank represented Hub.
"This transaction enables both GE and Hub to achieve long-term leasing certainty on a large block of space in the Wilmington marketplace," said Gurtler. "The tenant has the continued benefit of being situated in a prime location that appeals to employees."
299 Ballardvale St. is a 75,000 s/f brick office and flex/R&D building located off Rte. 93. The property is six miles from I-95 and Rte. 495. Corporate neighbors include GE Healthcare, Qualcomm and Automated Engineering Incorporated.
Avison Young is one of the world's fastest-growing commercial real estate services firms. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,600 real estate professionals in 61 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.