SEI to construct office building on its campus

SEI Investments Co., the mutual-fund and asset-management company, is moving forward with a construction project that it brought to a halt in 2008 when the downturn in the economy took hold.

The company is constructing its 10th building at its 90-acre campus off Route 422 in Oaks, Pa., and it will total about 37,000 square feet. When it was designed, the building was supposed to have a mix of office space with a full-service kitchen, a fitness facility and roof-top patio dining. Those plans were changed and now the entire structure will be office space, said Greg Gettinger, SEI’s facilities manager. The roof-top seating was retained.

SEI is experiencing “good growth” and that is driving the need for new construction and to have it be all office space, Gettinger said.

“We don’t add space until we absolutely have to have it,” he said.

The company’s other buildings are designed with an open space plan that gives it the ability to add personnel without immediately adding space.

A contractor hasn’t been selected and a cost estimate hasn’t been completed. The company expects to review bids this week and start construction in couple of weeks. In 2008, the company had broken ground on the structure and put in footings and the foundation before it decided to stop construction. By having that already in place, Gettinger expects it will take about nine months to complete.

Once finished, the new building will bring the total amount of space that SEI has on its campus to 560,000 square feet. It will also max out the campus.

“There’s still approval for another building, but there’s no room for it,” Gettinger said.

Any future construction would have to take place on an adjacent 40-acre parcel SEI owns. It has approvals for an additional 300,000 square feet on that land but no infrastructure, such as utilities and roads, have been installed. Any new construction on that land would be far in the future, Gettinger cautioned.

The company’s initial design by Meyer, Scherer & Rockcastle outlined the campus with a total of 10 buildings totaling about 600,00 square feet and two parking structures at build out. Its first phase totaled 230,000 square feet that was completed in 1996 and SEI has grown from there.

Source: Philadelphia Business Journal