Company Culture

Capital One signs a 10-year lease in downtown Wilmington

After flirting with departure, the bank has decided to make “a long-term investment in the city.”

Capital One, on paper.

(Photo by Flickr user Li Tsin Soon, used under a Creative Commons license)

Capital One’s flirted with moving beyond the state of Delaware before. Not just opening up more offices around the world, but saying goodbye to their locations here in the process. That loss would hurt the local economy, so it’s good news for Delaware that the financial company is staying put.
The News Journal has a large report about the recently announced consolidation of employees. Capital One will move all of their employees here in Delaware to two adjacent buildings in downtown Wilmington on Delaware Ave. This move will likely be done before the end of 2018 with employees changing locations in batches. The lease on the buildings runs until 2027.
Capital One Delaware Market President Joe Westcott told the News Journal that the bank wants to stay in Wilmington “and demonstrate a long-term investment in the city. We are focusedĀ on partnering with the city and being part of its future.”
Both buildings will be modernized and renovated over the next two years by their owners. Part of the design work is an open floor plan. The two buildings will house roughly 2,200 employees from Capital One.

Companies: Capital One
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