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Vanguard sells Wayne office complex for $17M, plans to lease through 2028
The deal followed Vanguard’s June disclosure that it would vacate 88,000 SF at another Malvern office site.
Vanguard has sold a two-building office complex in Wayne, Pennsylvania for $17 million, while planning to stay as a tenant, according to Bisnow. The company sold the 323,000-square-foot Robert A. DiStefano Technology Center at 1041 W. Valley Road to E. Kahn Development Co. and plans to continue leasing the property at least through 2028, the Philadelphia Business Journal reported. Bisnow reported that the buyer said it has no plans to redevelop the Wayne property as it works to convert another nearby office site at 435 Devon Park Drive into 162 apartments.
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