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1201 Market Street Garage

The land on which the 1201 N. Market Street building was developed consisted of a surface parking lot owned by Colonial on half the block and a surface parking lot owned by the Wilmington Parking Authority on the other half. A national developer of Class “A” office buildings, LaSalle Partners, came to Wilmington to develop…

The land on which the 1201 N. Market Street building was developed consisted of a surface parking lot owned by Colonial on half the block and a surface parking lot owned by the Wilmington Parking Authority on the other half. A national developer of Class “A” office buildings, LaSalle Partners, came to Wilmington to develop a building on behalf of a financial institution client. Colonial negotiated the sale of their half of the block as well as the WPA half to provide the development site for this project while retaining some ownership of the project. Shortly after the building opened in 1985, LP and Colonial sold their interests in the building. Although, Colonial continues to manage the building’s parking garage. Office Building Space: 300,000.