Sallie Mae spin-off Navient picks Wilmington HQ

Navient, the new loan management, servicing and asset recovery company that is being spun off from suburban Wilmington-based student lender Sallie Mae, on Tuesday signed a 7-year lease with Wilmington's Pettinaro organization to occupy 40,000 sq2 ft of previous vacant space at the Star building, 123 Justison St., on the city's Christina riverfront near Judy Johnson Field (the Blue Rocks stadium).

Sallie Mae plans to announce the move today.