After conducting an extensive search throughout the region for a new location, Exelon Generation decided to forego a move and buy the two buildings in Kennett Square that have been housing its headquarters for the last two decades, writes Natalie Kostelni for the Philadelphia Business Journal.

The company acquired the two-building office campus at 100 and 200 Exelon Way, as well as land at 300 and 400 Exelon Way that was already approved for future office development. The company paid $9.5 million for each of the two buildings and an additional $3 million for the land.

The company purchased the properties to consolidate regional utility operations for Atlantic City Electric, Delmarva Power, and PECO. Also, the complex will provide office space for Exelon Generation employees.

“Centralizing operations will deliver cost savings and increase operational efficiency as we strive to continue delivering world-class service to our utility customers,” said David Tillman, an Exelon spokesman.

Currently, there are no plans to develop the land. However, in the future, the property could potentially accommodate up to an additional 200,000 square feet of office space.

Read more about Exelon Generation in the Philadelphia Business Journal here.

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