Delaware industrial is concentrated across Wilmington, Dover, and Newark. Wilmington is anchored by a deep concentration of financial services (the state's chancery-court-driven corporate-domicile preeminence supports outsized banking, credit-card, and trust-company employment versus the state's geographic size), legacy chemical-industry employment, and the broader Wilmington / Greater Philadelphia commuter shed; Dover is the state capital with steady government employment and Dover Air Force Base; Newark is anchored by the University of Delaware . I-95 corridor industrial in Wilmington and the broader New Castle County logistics base draws regional bank and life-company competition; Port of Wilmington supports specialty cold-storage and bulk-distribution product.
Active capital sources
- Life Companies
- CMBS Lenders
- Delaware Regional Banks
- National Debt Funds
Loan programs we place
- Bulk Distribution Perm Debt
- Last-Mile Industrial Acquisition
- Build-to-Suit Construction-to-Perm
- Industrial Refinance / Recapitalization
Source notes
- BLS QCEW, 2025
Frequently asked questions
What LTV is realistic on stabilized Wilmington industrial?
Stabilized institutional bulk distribution and last-mile product typically clears 60% to 70% LTV through life companies and CMBS; debt yields of 8.5% to 10.0% effectively size most highly leveraged executions . Single-tenant credit-tenant net-leased product with long WALT can stretch into the 65% to 75% range on the back of underlying tenant credit.
Do you finance cold storage and specialty industrial in Delaware?
Yes. Cold storage, food-and-beverage processing, and aerospace-supplier industrial each draw specialty lender pools with distinct underwriting standards. The specialty industrial debt funds active on cold-chain and food-grade product treat large-format institutional cold storage as a primary asset class, and life-company correspondent shops with food-and-beverage industrial expertise quote stabilized institutional product on competitive terms.
What is Delaware's transfer tax structure for commercial industrial?
Delaware imposes a combined state and county real estate transfer tax of 4.00% of consideration on commercial transactions in most jurisdictions (state 2.50% + local 1.50%, with some municipal variation). Delaware's transfer tax is among the highest in the country in absolute terms and is a material closing-cost line item that lenders and sponsors model carefully into proceeds and equity sizing.
Are construction loans available for build-to-suit industrial in Delaware?
Yes. Construction-to-perm executions for credit-tenant net-leased product draw competitive bidding from regional banks and a focused subset of national debt funds. Required equity is typically in the 25% to 35% range with partial recourse during construction burning off at stabilization, and long-WALT take-out through CMBS or life companies is the typical exit. Pre-construction lease execution with an investment-grade tenant materially improves both pricing and proceeds: the same physical building with a 10-year credit-tenant lease in hand at construction-loan closing typically clears 50 to 100 basis points tighter than a comparable speculative build, frequently with materially lower required equity.