Wilmington-based developer, owner, and manager, The Buccini/Pollin Group, Inc. announced that Marlette Funding, LLC is moving to The Concord at 3419 Silverside Road in north Wilmington.
Marlette is currently located at 1523 Concord Pike.
Marlette, developer and operator of the Best Egg consumer-lending platform has signed a long-term lease for 60,000 square feet of Class A office space in the redeveloped mixed-use community formerly known as Concord Plaza.
The new office space will be leased entirely to Marlette, making the fintech company the newest anchor tenant in the office park.
BPGS Construction will manage the construction of the three-story building, which is expected to be completed in the second quarter of 2021. BPG has spent more than $100 million in renovations since acquiring the complex in 2003.
“Marlette Funding has called Wilmington home since 2013 when our company started with just two employees and roughly 100 square feet. With this new space, we will have room for more than 400 employees,” stated Jeffrey Meiler, CEO of Marlette Funding. “As our company grows, we remain dedicated to bringing new employment opportunities to the Wilmington community and investing in the area as a growing fintech hub.”
“Marlette Funding is just the kind of company that we want to stay in Delaware,” said Gov. John Carney. “They are innovative, growing, and adding jobs. Delaware has a world-class workforce, a central location, and a quality of life that is second to none. The fact remains that Delaware is a great place for Marlette and businesses of all sizes to put down roots, grow, and create good-paying jobs.”
In 2016, BPG launched a redevelopment project to transform the office park into a mixed-use community.
Phase I of the redevelopment was completed in June 2019 and features 166 new luxury apartment homes and high-end retail to The Concord.
Phase II will bring additional apartments, retail, and office space, including Marlette’s new headquarters, to The Concord.
“The Concord is the epitome of what The Buccini/Pollin Group has been trying to do in our home of New Castle County over the past 25 years,” said Chris Buccini, co-president of The Buccini/Pollin Group. “This redevelopment converted over 100,000 square feet of underutilized office space into the thriving mixed-use community here today. It is now equipped with the walkable amenities that can attract tenants looking to grow or relocate to our area, as proven by the Marlette’s commitment to call The Concord home.”
Built in the late 1960s, Concord Plaza was the first complex of its type in Delaware before being duplicated throughout New Castle and Kent Counties.
Marlette is among a number of new tenants who were drawn to the mixed-use redevelopment, including PayPal Holdings, The Mill Coworking Space, Platinum Dining Group restaurants Taverna and El Camino Mexican Kitchen, Amstel Barbershop, Solidcore, and Legion Transformation Center.
Blaise Fletcher of Jones Lang LaSalle (JLL) represented the tenant and Jeffery Gannett of Virtus Realty Advisors represented BPG in the lease transaction.
