New Castle Blends Best of Two Worlds
Published Apr 16, 2006
Carmen J. Facciolo Jr. (right) promotes the region in his capacity as co-chairman of the New Castle County Economic Development Council and board member of the NCC Chamber of Commerce.
As Carmen J. Facciolo Jr. sees it, New Castle County combines the best of two very desirable worlds. “You know someone almost everywhere you go,” says Facciolo, president of Emory Hill Real Estate Services in New Castle.
Yet New Castle County also offers big-city amenities. Wilmington itself has the skyline and vitality of a much larger metropolis. Philadelphia is 20 minutes away by automobile or train, and New York, Baltimore and Washington, D.C., can be reached within a few hours, Facciolo notes.
A real estate professional for 27 years, the Delaware native specializes in commercial real estate sales, leasing, consulting and development. He is co-chairman of the New Castle County Economic Development Council and a board member of the New Castle County Chamber of Commerce as well as the Commercial Industrial Realty Council.
Facciolo, who has two children, lives in Brandywine Hundred, an area in North Wilmington near the Pennsylvania border. (“Hundred” is a Colonial taxation term that refers to areas smaller than counties; the term is still common in Delaware.)
He took time to discuss the advantages of having a business in New Castle County.
Q: Why do you like the area?
A: There’s a community atmosphere. It’s also close to everything, so there is an ease of doing business.
Q: Why do businesses relocate to New Castle County? And why do entrepreneurs like to start a business here?
A: It’s convenient to large markets, but there is a lower cost of doing business. Businesses also appreciate the incorporation laws and incentives.
Q: Is there plenty of space available?
A: Office space absorption increased significantly in Wilmington, and vacancies rose slowly in New Castle County from May 2005 through May 2006. Lower interest rates have driven sales activity, and industrial land in northern New Castle County is at a premium, demanding $100,000 to $350,000 per acre and even higher in some cases.
Office-space vacancies will likely increase due to mergers and subsequent consolidations of facilities. Consider JP Morgan Chase’s purchase of the Bank of New York retail division and Bank of America’s purchase of MBNA.
Q: Aside from Wilmington, what other areas in New Castle County are popular?
A: Southern New Castle County has experienced an increased demand for medical and professional office space, particularly in the Middletown-Odessa area.
Q: Do many businesses request locations near I-95 and other main arteries?
A: Most businesses want accessibility for their employees and customers. They also want quick access to the large markets in the Philadelphia, New York, Baltimore and Washington, D.C., areas. This means close proximity to the interstate. Retail users, of course, want visibility on high traffic-count routes and a large population base.
Q: Is there a demand for warehouse and manufacturing space?
A: The velocity of industrial leasing has picked up, while sales have been brisk due to lower interest rates.
Q: What does New Castle County offer a company’s employees?
A: Delaware offers excellent schools, cultural amenities, beaches, parks – all close by. In addition, Philadelphia, Baltimore, New York and Washington – and the amenities they afford – are only a short distance away. I often provide my out-of-state clients with a copy of Images of New Castle County magazine, which gives a great overview of the New Castle County market and its amenities.
Q: What employee-training opportunities are available?
A: The University of Delaware, Widener University, Goldey-Beacom College and Wilmington College are in New Castle County. In addition, the Delaware Economic Development Office can respond to an employer’s needs by arranging skilled training programs. In some cases, subsidized training is available.
Story by Pam George
Photo by Antony Boshier
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