AstraZeneca Sells Wilmington Headquarters To Developer

WILMINGTON, DE — The pharmaceutical company AstraZeneca sold its U.S. headquarters in Wilmington to an area real estate developer in a deal reportedly worth $50 million.

The News Journal of Wilmington reported Delle Donne and Associates is leasing two buildings on the 80-acre campus on Concord Pike under a long-term agreement with AstraZeneca.

Selling the property and leasing back a smaller footprint will allow AstraZeneca to use office space more efficiently and reduce operational costs, a spokeswoman said. (For more local news, click here to sign up for real-time news alerts. If you have an iPhone, click here to get the free Patch iPhone app.)

The company said in December it was eliminating about 700 jobs in its U.S. commercial business, including about 120 in Wilmington, leaving it with about 1,500 employees in Delaware.

AstraZeneca once employed close to 5,000 workers in Delaware. It announced in 2013 that it was cutting 1,200 jobs at its Wilmington headquarters.

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