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Capital One is consolidating its presence in Wilmington, Delaware, from leases in three buildings to two, ending speculation that it could pull up stakes for somewhere else.
The bank signed another 10-year lease for the entirety of 802 Delaware Ave. (a total of 256K SF), which it has occupied since 2011, and has agreed to lease four floors (a total of 174K SF) of the neighboring 800 Delaware Ave., bringing its total footprint to 330k SF in the city, the Wilmington News Journal reports.
Capital One currently occupies space at 1 South Orange St. and 301 West 11th St., and the News Journal reports the total of those two leases amounts to less than the company will occupy in 800 Delaware, meaning the company is consolidating, but not reducing its space.
800 Delaware, owned by Newark, Delaware-based Delle Donne Associates, and 802 Delaware, owned by Equity Commonwealth, will both undergo extensive renovations as part of the new lease. The move will reportedly not affect the company's employment numbers.
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