Print
Real Estate - Commercial

In Mayfaire Area, NCino's Footprint Grows To 75,000 Square Feet

By Cece Nunn, posted Sep 7, 2017
When nCino moves into the third floor of The Offices at Mayfaire IV next year, the building will be fully occupied. (Photo by Cece Nunn)
Wilmington-based banking software company nCino has leased more office space in the Mayfaire area, bringing the rapidly growing firm's total footprint there to about 75,000 square feet.

In addition to its current offices at Parker Farm Drive, the Live Oak Bank spinoff plans to occupy the 17,000-square-foot third floor of The Offices at Mayfaire IV.

The company is scheduled to move in to the recently completed Mayfaire IV building at 6740 Rock Spring Road in early 2018, said Natalia Moose, nCino's public and analyst relations coordinator, in an email this week.

nCino currently has more than 350 full-time employees, most of whom are based in Wilmington, she said.

"We are planning to add approximately 100 more employees this year – based domestically and abroad – and are primarily expanding our product development & engineering, and customer success teams," Moose said in the email. 

The Mayfaire IV lease represents one of the latest signs of growth for nCino, which for the second year in a row made the Inc. 500 list of the fastest-growing private companies in the U.S., ranking No. 361.  The company, led by CEO Pierre Naudé, grew 1,218 percent between 2013 and 2016, according to an August announcement about its placement on the 2017 Inc. 500 list.

Founded in 2012, nCino leased 40,000 square feet in the former Wachovia building at Parker Farm Drive for an initial term of two years in 2015, moving there from midtown Wilmington. Recently, the firm chose to expand with another 17,000 square feet on the third floor of that building "to accommodate our growing workforce, and will be moved into that space by the end of this month," Moose said.

Including its latest lease of Mayfaire IV, nCino will occupy about 75,000 square feet in total between the two buildings.  

Explaining the factors behind nCino's growth, Moose said, "nCino has more than 170 bank and credit union customers of all sizes and across multiple countries, and has seen a significant increase in the level of interest from enterprise banks in working with nCino and using our Bank Operating System. Our rapid growth can be attributed to a best-in-class product and customer-centric approach to staying on the cutting edge of software delivery and technology transformation in the financial services."

With expanding companies comes the need for more office space. The Offices at Mayfaire IV is the latest office building in the Mayfaire series from developer Steve Anderson.

"It’s really surprising -- when I started to develop The Offices at Mayfaire six years ago, I had no idea that New Hanover County and certainly Wilmington had such a pent-up demand of larger office users needing greater than 10,000 square feet of contiguous office space," Anderson said Thursday. 

He said these days in the four three-story Offices at Mayfaire buildings, counting the upcoming move-in of nCino, there are six tenants that take up more than 10,000 square feet. Anderson is currently planning the fifth and sixth buildings in the group next to Mayfaire Community Center.

"We have permit and bank approval to start both buildings at the same time if the market demand is there," Anderson said. "And we are in talks with several different groups concerning both buildings."

Story On The Map

Ico insights

INSIGHTS

SPONSORS' CONTENT
Cfss headshots parker robert webversion 21422121214

The Latest Solar Scams and What You Can Do to Help Stop Them

Robert Parker - Cape Fear Solar Systems
Jasonpathfinder3

What You Need to Know About SECURE 2.0 and Its Effect on Retirement Plans

Jason Wheeler - Pathfinder Wealth Consulting
Jessiepowellheadshot webversion

5 Reasons to Build Custom Franchise Software

Jessie Powell - Wide Open Tech

Trending News

Conservation Group Signs $8M Deal To Buy The Point On Topsail Island

Audrey Elsberry - Mar 26, 2024

National Organization Bestows Top Award On Cape Fear Professional Women In Building

Staff Reports - Mar 26, 2024

Engineering Firm Hires Four Employees

Staff Reports - Mar 26, 2024

N.C. Ports Officials React To Baltimore Bridge Collapse

Audrey Elsberry - Mar 26, 2024

NCino's Fourth-quarter Earnings Signal Rebound From Liquidity Crisis

Audrey Elsberry - Mar 27, 2024

In The Current Issue

Expanding Tastes On Castle Street

As John Willse and Beth Guertin, owners of Wilmington Wine bottle shop and now the recently opened Creative Tastings restaurant on Castle St...


INFO JUNKIE: Jack Fleming

Jack Fleming, owner of Socialry Marketing & Scourz and emcee for 1 Million Cups Wilmington, shares his media and tech picks....


Q&A: Andrews Reflects On Leadership

Pender County Manager David Andrews is slated to retire this summer after 33 years in local government....

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments