The sale of Bracebridge I at 1100 N. King St. and Bracebridge III at 1100 N. French St. is expected to close in the first quarter of 2026.
Company says it remains committed to Delaware as scaled-back plan raises broader questions about subsidies, redevelopment strategy, and biotech growth
WILMINGTON, Del. — Incyte Corp. has halted construction on its planned downtown Wilmington headquarters and agreed to sell two major Bracebridge buildings to the Buccini/Pollin Group, marking a significant strategic shift for one of Delaware’s most prominent biotech employers and prompting renewed scrutiny of the state’s corporate-incentive strategy.
Despite the sale, the company says it intends to remain involved in the project.
Incyte will remain “an integral part of the project” and lease about 80,000 square feet across two floors in Bracebridge I for 10 years, according to company representative Catalina Loveman — roughly 15% of the 517,000 square feet it had originally planned to occupy…