Johnson and Johnson subsidiary Janssen is vacating its office building in Chesterbrook after several decades. The company occupied the entire three-story, 131,068 square foot building, writes Paul Schwedelson for the Philadelphia Business Journal.
Spokeswoman Jennifer Norton said the move is due to the proximity of other offices and the accommodation of employees.
She did not disclose how many employees were working at 965 Chesterbook Blvd. Real estate firm Rubenstein Partners’ bought the campus for $148 million in 2019.
The real estate agency was aware Janssen was planning to vacate when they bought the property. It spent $50 million on campus renovations. Rubenstein spent $10 million of that on converting an office building into a co-working space at 851 Duportail Road.
The co-working space features lounges, a fitness center, and game room. Its currently 90 percent leased.
Read more about the Chesterbrook office building in the Philadelphia Business Journal.
More about Janssen Pharmaceuticals.