The buildings will house the company's Kevlar and Tyvek products that are made at the Spruance, VA plant, thereby allowing DuPont to discontinue leases on storage spaces in seven other structures throughout the Richmond area. One of the locations which will be consolidated at the new location is the three-building Dupont Warehouse Complex, which accounts for 452,000 sf and leases at $2.25-$3.00 per sf.
While DuPont did not receive local or state incentives to build in the area, developer Devon USA is eligible for some fee waivers and the property manager will also receive tax rebates. DuPont will sell the completed buildings to Devon and, in turn, lease the new more efficient facilities from the owner.
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