Market rumors have the building materials company finally making a decision.
The company has been in and out looking for new office space
for quite some time. In April 2011, the company decided that it would remain in
its buildings 750 East Swedesford Road in King of Prussia for the “foreseeable
future.”
Certain-Teed and the North American headquarters of its parent
company, Saint-Gobain, occupy four structures totaling 175,000 square feet. The
buildings date back to the 1970s.
A year ago, the company decided to venture back out in the
office market, looking for space. The combined companies sought between 200,000
and 250,000 square feet to consolidate and expand, according to market sources.
Sources believe a deal is eminent for the company to move to
what is referred to as the Aegon campus owned by developer Eli Kahn of E. Kahn
Development Corp. That property at 20 Moores Road in Frazer, Pa., consists of
two vacant office buildings that total 236,704 square feet. The property used
to be an office complex once occupied by Aegon Group.
Four additional buildings can be constructed on the 65 acres
and in all more than 500,000 square feet of space can be developed. Approvals
are already in place for any new office construction.
Source: Philadelphia
Business Journal
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