JPMorgan Chase clears old AstraZeneca site

Editor's note: Previous versions of this story were accompanied by photos of buildings that belong to AstraZeneca and are part of another project.

JPMorgan Chase has started demolition on the 362,551-square-foot office complex that was formerly a part of the AstraZeneca facility along Concord Pike in Fairfax.

The global financial company acquired the 58-acre parcel from AstraZeneca last May in a deal valued at $44 million. The transfer tax generated $660,000 for New Castle County and $660,000 for the state, according to the county finance office.

Solar installations on the campus were included in the sale.

JPMorgan declined to discuss its plans for the property or how many workers will be relocated to the complex.

"Construction is on time and progressing as planned, and we expect to begin moving employees in winter," a company spokeswoman said in a released statement.

At the time of the land purchase, JPMorgan said it expected to move employees into the office complex by early 2015. The spokeswoman did not comment on why the workers will be relocating much later than originally announced.

JPMorgan has added roughly 1,200 employees in Delaware since 2012 and now employs more than 7,500 people here. The company has been on a Delaware land shopping spree in recent years. In 2013, the financial service company paid $87 million to purchase two downtown Wilmington office towers from Brandywine Realty Trust of Radnor, Pennsylvania.

New Castle County Executive Tom Gordon did not return calls seeking comment on how many jobs, if any, JPMorgan would add to the region.

The area under construction was known as the AstraZeneca "south campus." AstraZeneca had split its property into a "north campus" and "south campus." Powder Mill Road split the two sections with two bridges – one for pedestrians, the other for vehicles – connecting the two campuses.

A permit was issued on March 24 for interior renovations of two existing office buildings and one maintenance building encompassing 362,551 square feet of floor space, according to New Castle County Records. The Gilbane Building Co. obtained the tenant fitout permit.

When the property was owned by AstraZeneca, it housed two office buildings known as the Chesapeake and the Delaware. The buildings, built in 2002, were a four-story, 203,602-square-foot structure and and a three-story, 152,949-square-foot building.

A dinning facility, hair salon, fitness center, conference room and training area were included in the buildings when they were owned by AstraZeneca. The area also had parking for more than 2,000 vehicles with a garage and surface lot. AstraZeneca had obtained approval for an additional 832,000 square feet of feet office and 1,900 new parking spaces, but it is not known if those approvals were transferred to JPMorgan.

AstraZeneca had fully vacated the south campus by the end of 2014.

Contact Jeff Mordock at (302) 324-2786 or jmordock@delawareonline.com.