Marlette Funding to move to new HQ at The Concord
WILMINGTON – The Buccini/Pollin Group announced Wednesday afternoon that Wilmington-based financial technology company Marlette Funding LLC will move its headquarters into to The Concord, BPG’s mixed-use redevelopment project off U.S. Route 202.
Marlette, developer and operator of the Best Egg consumer-lending platform, has signed a long-term lease for 60,000 square feet of built-to-suit Class A office space in the office park located at 3419 Silverside Road. It will occupy a new three-story building expected to be completed at The Concord campus by the second quarter of 2021, officials reported.
Marlette is currently located at Brandywine Plaza off Route 202 just a few miles south of its future new headquarters. With its impending move, the company will reportedly be adding employees – it currently has about a dozen job openings.
In November 2018, Marlette received a $2.725 million Strategic Fund grant for the creation of 232 new jobs in Delaware by the end of 2023 and a capital investment of $7.5 million.
“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,” said Jeffrey Meiler, CEO of Marlette Funding, in a statement announcing the lease. “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.”
In a statement, Gov. John Carney hailed the news of Marlette’s growth, calling it “just the kind of company that we want to stay in Delaware.”
“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,” he said.
BPG purchased the former Concord Plaza in 2003 and in 2016 launched an extensive mixed-use redevelopment project. The first phase, completed in June 2019, built 166 luxury apartments and high-end retail at The Concord. The second phase will bring additional apartments, retail, and office space, including Marlette’s new headquarters. To date, BPG has invested more than $100 million in renovations at the 45-acre project.
Other new tenants at The Concord include PayPal Holdings, The Mill Coworking Space, Platinum Dining Group restaurants Taverna and El Camino Mexican Kitchen, Amstel Barbershop, Solidcore, and Legion Transformation Center.
“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, in a statement. “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.”
Blaise Fletcher of Jones Lang LaSalle (JLL) represented Marlette while Jeffery Gannett of Virtus Reality Advisors represented BPG in the lease transaction.
By Jacob Owens