Instead of ‘Falling into Quicksand,’ Chesterbrook Corporate Center Keeps Up with the Joneses

Chesterbrook Corporate Center

A number of big moves over the years have gutted large swaths of the Chesterbrook Corporate Center, but the office park hasn’t kept quiet for long.

The 400,000 square feet of space emptied by Shire Pharmaceuticals last year is busy once again, according to a Philadelphia Business Journal report by Natalie Kostelni.

Trends in leasing have shifted dramatically in the last decade.

“The activity was not there, and there was a lot of competition,” said CBRE broker Dan Dagit Jr. “Now the activity is here, and there is less competition. Everyone thought Chesterbrook was going to fall into quicksand, but that didn’t happen.”

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The Chesterbrook Corporate Center has endured similar challenges when Vanguard and later Weyerhaeuser and AstraZeneca left.

The solution?

“I would say they have been aggressive and really focused on making deals,” said Newmark Grubb Knight Frank broker Jeff Mack. That and amenities like its retail center, walking trails, hotel, and park.

The 1.5 million-square-foot, 15-building Chesterbrook Corporate Center still has AmerisourceBergen, and the newest tenants have included Dell Boomi, SEI Investments, Hartford Funds, Egalet Corp., Trevena, J.G. Wentworth, DecisionOne Corp., and Comcast.

Read more about the resurgence of the Chesterbrook Corporate Center in the Philadelphia Business Journal here.

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