Business
The Bancorp Expands Sioux Falls Presence with New Office at Cherapa Place
The Company will serve as the anchor tenant of the new building to be completed in 2023 WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp, Inc. (“The Bancorp”)
About this update from The Bancorp, Inc.
[{"type":"text","content":"\nThe Company will serve as the anchor tenant of the new building to be completed in 2023\n\n WILMINGTON, Del.--(BUSINESS WIRE)--\nThe Bancorp, Inc. (“The Bancorp”) (Nasdaq: TBBK) and its subsidiary The Bancorp Bank, announced its plans to expand its office space and be the anchor office tenant of the expanding Cherapa Place development on the east bank of the Big Sioux River in downtown Sioux Falls, South Dakota. The Bancorp will initially occupy 50,000 square feet across the top three office floors in the new 10-story mixed-use building at Cherapa Place which will feature ground-level retail, seven stories of Class A office space, two floors of upscale condos, and conference space for the development. Yesterday, executives from the Company participated in the groundbreaking ceremony along with members from the Sioux Falls Development Foundation, Cherapa owner Pendar Properties, Journey Construction, and architecture firm ISG. This project will further extend development of the east bank of the Big Sioux River and is scheduled to be completed in 2023.\n\n“Having grown up in the Sioux Falls area, I have seen the impact local companies can have on the surrounding community and I am incredibly proud to see The Bancorp invest in the growth of Sioux Falls,” shared Gregor Garry, Chief Operating Officer. “With The Bancorp Building at Cherapa Place, we will be able to continue to attract and hire high quality, high paying roles within the community.”\n\nThe Company’s early involvement in the new building is a result of the continued growth within its Fintech Solutions business unit, which focuses on serving the unique needs of non-bank financial service companies. The Bancorp Sioux Falls office is currently located within the Heather Ridge office complex near 69th and Western Avenue. The new location will allow The Bancorp to expand its workforce presence in Sioux Falls and offer world-class office space and amenities to its current and future employees. ISG has been retained by The Bancorp for the development of its space.\n\n“Sioux Falls has been the home of our Fintech Solutions business unit since 2002, and our decision to materially expand our Sioux Falls office footprint demonstrates an enhanced level of corporate commitment to the region and our employees,” said Ryan Harris, Executive Vice President, Head of Fintech Solutions. “...