 
Pennsylvania: Planting Seeds for High-Tech Growth (cover) Lightning Manufacturing Keystone Opportunity Zones Pittsburgh Philadelphia Area Other Moves Around Pennsylvania Request Information |
Like Pittsburgh, Pennsylvania's other big market -- Philadelphia -- continues to attract large numbers of corporate facilities (see Leggat McCall Properties sidebar).
Mutual funds concern The Vanguard Group, based in suburban Philadelphia, has purchased a 175-acre (71-hectare) farm in Uwchlan Township, where it plans to build as much as 2 million sq. ft. (185,800 sq. m.) of office space. The firm, which manages $530 billion in assets, has outgrown its current 800,000-sq.-ft. (74,300-sq.-m.) campus, forcing it to lease nearly 1 million sq. ft. (92,900 sq. m.) of space in various locations along Philadelphia's Route 202 corridor. Vanguard is also building a 350,000-sq.-ft. (32,500-sq.-m.) multimedia training center at its existing campus.
Union Packaging is adding 200 jobs at its Delaware County manufacturing plant, boosted by a three-year, multimillion-dollar contract from McDonald's restaurants and $500,000 in state financial assistance. The company makes folding cartons for fast-food restaurant and personal-care products. "Union Packaging is proud to partner with McDonald's, Gov. Ridge and his Action Team and the community, and I would like to thank them for helping to make this minority business a success," says company President Michael Pearson.
Keystone Mercy Health Plan, Pennsylvania's largest managed-care organization, has entered into a 15-year lease for some 303,000 sq. ft. (28,150 sq. m.) of office space at Mack-Cali Realty Corp.'s Airport Business Center in Tinicum Township. The new lease includes a renewal of 119,500 sq. ft. (11,100 sq. m.) and an expansion of 183,649 sq. ft. (17,100 sq. m.).
"We are pleased that Mack-Cali was able to accommodate our need to consolidate satellite offices into our headquarters facility, which will allow us to enhance operational efficiencies," says company President and CEO Daniel J. Hilferty. PECO Energy economic development representatives also assisted the company in its expansion (see CB Richard Ellis sidebar for more details on real estate market conditions).
Asia Foods, which distributes food and supplies to some 500 restaurants and wholesalers in the Mid-Atlantic region, recently expanded its Philadelphia warehouse facilities, renovating a building in one of the city's Keystone Opportunity Zones. The $2 million project created 24 jobs.
Pharmaceuticals leader Cephalon is spending $5.5 million to expand and renovate its West Chester headquarters to provide more research space for new product testing. The firm currently owns three 50,000-sq.-ft. (4,645-sq.-m.) buildings in the Brandywine Corporate Center, but only occupies two. Under the expansion plan, Cephalon will use about 35,000 sq. ft. (3,250 sq. m.) of space in the unoccupied building for new administrative offices. That will free up room to enlarge lab space in the other facilities to help speed the development of several new drugs currently under study.
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The Philadelphia Area
"We look at today as an opportunity to say, loud and clear, that we love Philadelphia and we're here for the long term," Chief Operating Officer David K. Downes says. "The state and the city both stepped up early and made it clear that they would work aggressively to see that we remained in Philadelphia."
