City Welcomes Navient Corporate Headquarters to the Riverfront

Posted on  04/08/2014 4:31 pm

Today, Navient, the new loan management, servicing and asset recovery company set to launch later this year, announced the City of Wilmington’s Riverfront as the location of its corporate headquarters.

Navient signed a 7-year lease with Pettinaro to occupy approximately 40,000-square-feet of space in the Star Building, which is located at 123 Justison Street on the Wilmington Riverfront. Moving to the Riverfront will provide the company with the opportunity for additional growth.

“I would like to thank Navient for their investment in Wilmington and for their confidence in our city to be the new home for their employees and company headquarters,” said Mayor Dennis P. Williams. “The City continues to explore new methods of economic growth and job creation. Navient’s move into the City reaffirms that Wilmington remains a good investment option for businesses and is a preferred location. We look forward to working with Navient in the future and wish them much success.”

Navient stands as a reputable company with a strong legacy, and will have a positive economic impact on the City of Wilmington by creating new jobs, tax revenues and increased development. With projections of 120 new jobs, Navient will also potentially attract new residents and patrons to support local businesses on the Riverfront and in downtown Wilmington.

In a press release, Navient indicated it selected the Riverfront location for its suitable building infrastructure, proximity to the Amtrak train station and convenience to quality of life attractions for employees.

Harold Gray, Director of Economic Development for the City said, “I believe that Navient has made a great choice to settle operations in Wilmington. This is the culmination of team efforts by Navient, the State, City officials, as well as the local community. We look forward to Navient’s success and to working with them in the future.”