Delaware Governor Jack Markell, Wilmington Mayor James M. Baker and City Council Member Hanifa G. N. Shabazz joined officials of Ashland Inc. and McConnell Johnson Real Estate on Wednesday afternoon to announce a lease extension through 2016 for Hercules Incorporated, now a subsidiary of Ashland, at the Hercules Plaza at 12th and Market Streets. The new lease - for 125,000 square feet -represents a three-year extension of the former Hercules lease.
"The Plaza has become highly recognized as the home for Hercules since 1983 and we are pleased to continue here for several more years under the Ashland banner," said Paul Raymond, president of Ashland Hercules Water Technologies.
Paul McConnell of Wilmington-based McConnell Johnson Real Estate said as part of the transaction with Ashland, 72,000 square feet of multiple-use office space is available in the building for immediate occupancy.
The Hercules Plaza building is a 12-story, 520,000 square foot multi-use office building situated on the 300-acre Brandywine Park. The building, designed by Kohn Pederson and Fox, boasts a 12-story atrium, highlighted by plants and waterfalls, which is the central focus of the interior space. The Hercules Plaza is also home to other businesses and corporations such as VISA, Conde Nast, and the law firms of Potter Anderson & Corroon LLP and Pepper Hamilton LLP.
Governor Markell today said Hercules has a long tradition in Delaware on which Ashland will now build. "The ingenuity and tireless labor of Delawareans helped Hercules become a pioneer in the specialty chemicals industry, and those same skilled workers will now help the combined entity perform even better," said the Governor. "Today's announcement is welcome news as we work to get Delaware's economy moving again. Delaware needs to be the best place in the country to start and build a business, with a climate in which companies can prosper and grow. We thank Ashland for sharing that vision."
"It is good news indeed when a company that has been such an integral part of our local economy and local community for so many years decides to continue its commitment to Wilmington and Delaware." said Mayor Baker. "The name of the company may have changed, but the emphasis of the combined management and of company employees to solidify business operations while helping to make this a better City has not wavered at all."
For information about leasing opportunities at Hercules Plaza, call Scott Johnson 302-428-0712 (ext.102) or Ed O'Brien 302-428-0712 (ext.104).
About Ashland
Ashland Inc. (NYSE: ASH) completed its acquisition of Hercules Incorporated on November 13, 2008, creating a leading specialty chemicals company serving many of the world's most essential needs and industries.
Incorporating the former Hercules businesses, Ashland is composed of five commercial units: Ashland Aqualon Functional Ingredients, a fast-growing business of specialty additives and functional ingredients derived from renewable resources, and serving personal care, pharmaceuticals, food, construction, transportation and other industries; Ashland Hercules Water Technologies, a $2 billion specialty paper and water chemicals business formed from the related operations of Hercules and Ashland; Ashland Performance Materials, the specialty resins business serving construction, infrastructure, energy and transportation segments; Ashland Consumer Markets, the Valvoline® lubricants, automotive appearance and service business; and Ashland Distribution, North America's leading distributor of chemicals, plastics, composite materials and environmental services.
The corporate headquarters for Ashland is in Covington, Ky. The former Hercules administrative facility in Wilmington, Delaware, now serves as the operations center for Ashland Aqualon Functional Ingredients and Ashland Hercules Water Technologies. To learn more about Ashland, visit www.ashland.com.
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