Investment company Vanguard is expanding its presence at the mammoth office building at 1400 Atwater Drive in Malvern. The 300,000 square foot building overlooks a 60-acre lake and can hold up to 1,700 Vanguard employees, writes Paul Schwedelson for the Philadelphia Business Journal.
The sale between Vanguard and Equus Capital Partners closed on Tuesday. The company had been leasing two floors of the building since 2018 from Endo International but has now purchased the property in its entirety. Equus declined to disclose how much Vanguard paid.
Currently there are 300 Vanguard employees in the building, and less than two miles down the road lives the investment giant’s headquarters. The property on Atwater is officially the 31st Vanguard-operated building in the entire state.
“Vanguard is excited to continue to invest in our infrastructure and the region, and importantly, ensure we’re equipped to continue offering a best-in-class work experience for our crew to serve our investors and their financial goals,” said Paul Begin, head of corporate real estate for Vanguard.
Additionally, Vanguard-affiliated Nelson Realty Trust recently sold Happy Days Farm in Exton for $34.3 million.
Read more about the newest Vanguard-operated building in the Philadelphia Business Journal.
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Editor’s Note: This article was originally published in November 2022.
