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Real Estate - Commercial

Mortgage Firm Relocating To Barclay Commons

By Cece Nunn, posted Jul 6, 2020
Kevin Crooks

After about two years on Commonwealth Drive in the Wilmington market, a mortgage firm that serves the military has gotten a bigger office.

AAFMAA Mortgage Services leased Suite 202 at 2520 Independence Blvd. in Barclay Commons.

The more than 3,600-square-foot office space is in midtown because "it was a central part of town, and Wilmington commercial leasing spaces are limited," said Kevin Crooks, branch manager for AAFMAA Mortgage Services. "It certainly gave us the functionality we were looking for as far as office spaces and common area."

Seven employees typically work in the AAFMAA Mortgage branch in Wilmington, but they're mostly working from home right now, Crooks said.

Crooks said the not-for-profit, member-owned company, is kind of like a credit union, but to become a member, a client has to currently be a part of or have served in the armed forces.

Crooks said his branch, a division of a larger company, works on mortgages only, but its parent company also offers life insurance and wealth management.

"Right now probably about 90% of our business is refinancing because the rates are so low," Crooks said. "It's been challenging trying to figure out how to do it all and learning how to do it remotely. We've been fortunate that our business has only increased since everything started."

The larger space will allow the branch to have a safer setting that can factor in much more social distance, Crooks said.

Commercial broker Allan Fox of Coldwell Banker Commercial Sun Coast Partners represented AAFMAA in the lease, while commercial brokers Tyler Pegg and Cody Cress, of the Cress Group of Coldwell Banker Commercial Sun Coast Partners, represented the landlord, Barclay Group LLC.

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