An entity controlled by partners of the law firm of Bifferato, Gentilotti, Biden and Balick LLC recently purchased the building at 800 King St. in Wilmington, Del.
The value of the transaction was not disclosed.
King Street Associates LLC sold the 102,000-square-foot building, formerly known as the “Conectiv Building,” which was built in 1971. It will undergo extensive upgrades, including a high-end, class A fit-out, refurbishing of offices and the lobby, elevator upgrades, and power-washing of the exterior.
BGB&B will occupy approximately 22,000 square feet of high-end office space on the lobby and plaza levels to bring the building’s direct occupancy up to 100 percent.
At the time of sale, Pepco Holdings Inc., the parent company of Delmarva Power, also occupied the building. The basement houses Pepco’s thermal energy plant, providing alternative energy source solutions to area buildings. The remainder of the tenant mix is comprised of law and professional services firms.