Crews have made progress on the expansion of nCino's Mayfaire-area headquarters.
As a result of the project, the publicly-traded, cloud banking firm based in Wilmington will have enough space to allow for at least 600 new employees.
The expansion of nCino (Nasdaq: NCNO) incudes a new parking garage, an additional office building with 90,000 square feet and a facade renovation of the main headquarters structure.
A big part of the project is complete.
"The new parking deck at nCino Headquarters opened on Monday, Oct. 11. In addition to 640 parking spaces (including 5 electric car charging stations), the parking garage also houses bike racks that will accommodate 40+ bikes, which are located on the first floor," said Katie Smith, the firm's senior vice president of finance and operations, in an email Friday.
A new sign was recently installed on the main headquarters building, and the neighboring office building is taking shape.
"Construction on this property is underway and is scheduled to be completed in fall 2022," Smith said.
The general contractor is Thomas Construction Group and the architect is LS3P.
nCino's expansion was announced in April
. Cloud Real Estate Holdings LLC, a Wilmington investment group comprised of entities affiliated with Cameron Management, SHP Acquisitions and Trask Land Co., entered into an agreement with nCino to acquire, lease back and develop the expansion.
Cloud Real Estate bought the property
at 6770 Parker Farm Drive, including the existing nCino headquarters building, for $16.3 million last year. Trask Land Co. is the developer for the expansion and Cameron Management is serving as co-developer.
In an illustration of the software firm's growth, nCino announced in September
increased revenues and that Wells Fargo, one of the top four banks in the U.S., selected the firm "to digitally transform its commercial lending operations," nCino CEO Pierre Naudé said last month. "This growth across the U.S. and our non-U.S. markets illustrates that financial institutions of all sizes, all around the world, continue to embrace the nCino platform as part of their transition to a digital, client-first strategy.”