October 11, 2023 9:00 AM
Newmark announces the firm has arranged a 61,662-square-foot renewal on behalf of Deluxe Corporation, a Minnesota-based American payments and business technology company, for its existing space at 400 White Clay Center Drive in Newark, Delaware. The tenant renewed its lease a few months ahead of the lease expiry and secured a medium-term lease, where the company will continue occupying the entire building.
Newmark Senior Managing Director Wills Elliman worked collaboratively on behalf of the tenant to secure the renewal.
“In understanding our client’s requirements, specifically the key drivers behind their decision to remain at White Clay Center given the building’s proximity to its employee base and existing infrastructure, both of which are integral to its business operations–we worked diligently to secure favorable renewal terms,” said Elliman. “We congratulate Deluxe Corporation on closing this transaction and look forward to their continued success in the space.”
Totaling 476,000 square feet, the White Clay Center is comprised of seven buildings, a mix of office, flex and industrial buildings. The office is strategically located in Newark and benefits from being located within proximity to the University of Delaware’s main campus and the roster of amenities nearby, giving the tenant ideal positioning for recruiting and retaining top talent. 400 White Clay Center Drive provides unprecedented access to the amenity-rich environment in the surrounding areas, including being a nine-minute drive from Downtown Newark, a 20-minute drive from Wilmington and the Maryland state border and approximately a 60-minute drive from Downtown Philadelphia and the Philadelphia International Airport.
Founded in 1915 by William Roy Hotchkiss, Deluxe Corporation has four business divisions comprising payments, cloud, promotional products and checks. As of 2020, the business has accumulated 4.5 million small businesses and 4,000 financial institutions as customers–providing services such as producing personal and business checks, marketing, web development, web hosting and fraud protection services. The prior incarnation of the tenant was known as First Data, located at Bellevue Park Corporate Center in Wilmington, Delaware. In 2010, the company relocated to White Clay Center as the labor pool was a more compatible match locationally.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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