Radnor will soon be getting its first office development in more than 30 years as a new campus is created at 144 King of Prussia Road, writes writes Natalie Kostelni for Philadelphia Business Journal.
Radnor commissioners approved a final subdivision plan on Oct. 7.
The 34-acre campus will be anchored by the University of Pennsylvania Health System. The property had once been used as a pharmaceutical laboratory and office closed, opening it up for new development.
Penn Medicine bought the site in May 2015 for $35 million and broke ground a year ago on a $200 million, 250,000 square-foot patient facility at 145 King of Prussia Road.
The approved subdivision plan came after a six to seven year process. It allows for a medical facility, office building and hotel. In all, 475,000 square feet of new space will eventually be developed.
“This is marvelous,” said Marc B. Kalin, an attorney representing developer Brandywine Realty Trust. “Penn is building a magnificent medical building, Brandywine is building an office building and there will be a 120-room hotel.
The real estate company is targeting to complete the building by 2021. ,
Read more about this new business campus in Radnor here.