8A — March 27 - April 9, 2020 — Retail Development Reimagined — M id A tlantic Real Estate Journal


R etail D evelopment R eimagined Jeffery Gannett of Virtus Reality Advisors represented BPG in the lease transaction The Buccini/Pollin Group welcomes Marlette Funding as new anchor tenant to The Concord


struction of the 3-story build- ing, which is expected to be completed in the 2nd quarter of 2021. Since BPG purchased the development in late 2003, over $100 million in renovations have been completed. “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 em- ployees,” shared JeffreyMeiler, 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 Governor John Carney. “They are innovative, growing, and adding jobs. Delaware has a world-class workforce, a cen- tral 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 an extensive redevelopment proj- ect to transform the office park into a mixed-use community. Phase I of the redevelopment was completed in June 2019 and introduced 166 brand new luxury apartment homes and high-end retail to The Concord. Phase II will bring additional apartments, retail, and office space, includingMarlette’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 NewCastle County over the past 25 years,” said Chris Buccini, Co-President of The Buccini/Pollin Group. “This redevelopment converted over 100,000 SF of underuti- lized office space into the thriv - ing 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 com - mitment to call The Concord home.” Built in the late 1960s, Concord Plaza was the first complex of its type in Dela- ware before being duplicated throughout New Castle and Kent Counties. It remains one of the most desirable and larg- est commercial parks in the state at 45 acres. Marlette is among a number of new ten- ants who were drawn to the mixed-use redevelopment, including PayPal Holdings, The Mill Coworking Space, PlatinumDining Group restau- rants Taverna and El Camino Mexican Kitchen, Amstel Bar- bershop, Solidcore, and Legion Transformation Center. Blaise Fletcher of Jones Lang LaSalle (JLL) repre- sented the tenant and Jeffery Gannett of Virtus Reality Advisors represented BPG in the lease transaction. 

ILMINGTON, DE — Wi lmi n g t o n - based developer,

owner, and manager, The Buccini/Pollin Group, Inc. (BPG) welcomed Marlette Funding, LLC to The Concord at 3419 Silverside Rd. Mar- lette, developer and operator of the Best Egg consumer- lending platform has signed a long-term lease for 60,000 s/f of built-to-suit (BTS) 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,

The Concord

making the fintech company the newest anchor tenant in

the office park. BPGS Con- struction will manage the con-


Geotechnical Design & Analy

nvironmental Site Assessments and

www.earthengineering.com Corporate Headquarters: 610-277-0880 Lehigh Valley: 610-967-4540 Central PA: 717-697-5701 South Jersey: 856-768-1001

Made with FlippingBook Annual report