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Commercial Real Estate Features

Bank of America to lease in Red Clay Financial Center


Bank of America will lease two floors of a three-story office building EDiS is constructing at the corner of Centerville Road and Lancaster Pike. The 60,000-square-foot building will occupy the last pad at Red Clay Financial Center on the corner opposite Corporation Service Co.

The bank plans to relocate about 100 employees from its wealth management and business banking department from other locations in Wilmington.

“The move is consistent with our overall growth strategy to help our local market teams better collaborate and deepen client relationships, said bank spokesman Trevor Koenig, who declined to say which buildings the employees would be leaving.

Construction with private money signals faith in the county economy, industry insiders said. Architect Buck Simplers called it a positive spin for the private economy in Wilmington.

Brian DiSabatino, CEO of EDiS, said he believes the combination of the new Artisans Bank building next to the construction site, the rising Bank of America building and Corporation Service across the street will create a financial services hub.

“Our take is that the Delaware economy is in recovery,” DiSabatino said. “We see, from all indications – from a change in the regulatory environment to the macroeconomic environment – that Delaware is poised for a rebound. We continue to invest in the City of Wilmington. We continue to invest in the suburbs, and we continue to invest in our Whitehall project.” Whitehall is the company’s planned residential development in Middletown.”

The building will be ready for occupancy in the spring.

EDiS will be marketing the remaining floor of the building. “We believe it’s one of the last great corners in the Greenville-Hockessin corridor,” he said.

DiSabatino declined to disclose the cost of the building.

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