The Chesterbrook Corporate Center had been facing a potentially bleak future after one of its largest tenants, Shire Pharmaceuticals, gave notice that it was moving out, leaving four key properties on the site vacant by the first quarter of 2016.

Once again Pennsylvania’s tech companies came to the rescue with Comcast agreeing to lease the entire building located at 725 Chesterbrook Blvd.  In addition to Comcast showing its support for the local community, Direct TV has agreed to take 20,000 square feet at 601 Lee Road, and Deacom Inc, is leasing 30,000 square feet at the same location.

While in some ways these moves represent a shuffling of office space around the county, with Comcast Spotlight moving its regional office from West Chester and Deacom moving from Valley Road in Wayne.

For the Chesterbrook Corporate Center it represents a huge relief as having four of its major properties empty for any period of time could have been disastrous.  With such high profile companies moving into the center, there is also a good chance that others will follow with two more leases already out for signature.

To encourage the new tenants, Pitcairn, which owns the majority of office space in Chesterbrook, is instigating a series of renovations, including upgrades to the lobby, bathrooms and other areas in the buildings that the new tenants will soon occupy.

It is also planning to spend $6 million redoing 851 Duportail Road, a 40,000-square-foot building vacated by Traffic.com. The renovations along with easy access to Paoli and other nearby train stations, the redevelopment of a retail center in the office center and nearby green spaces make the Center very attractive.

“Chesterbrook is on fire,” said Dan Dagit Jr., a broker with CBRE Inc. that represents Pitcairn Properties, “It got hit hard in the big recession. After that, the large cap tenants all went silent and no one did anything and now they are back, at the rate we are going, Chesterbrook will be fully stabilized within a year.”