Peco buys property in Chester County, part of larger growth strategy
The company bought the property, formerly used by Vanguard, for $5.95 million in January.
Peco is expanding its real estate footprint in the Philadelphia region.
The gas and electric utility company purchased a property at 100 Chesterfield Parkway in Malvern for $5.95 million in January, according to Chester County property records. The Philadelphia Business Journal first reported the purchase.
The building had previously been leased by Vanguard, which still has offices nearby and has been working toward moving more of its Malvern employees to the company’s main campus. The investment company most recently closed one of its Malvern offices spanning 137,000 square feet.
Peco’s Malvern acquisition “is part of a comprehensive, multi-year strategy to support the recent expansion and future growth of our operations teams,” Peco spokesperson Matthew Rankin said Thursday.
Administrative staff and “other support teams,” will work out of the new office, Rankin said, but did not say how many.
The property is near Peco operations facilities, Rankin said.
Peco’s expansion comes as the company brought in $814 million in net income in 2025, up 48% from the previous year. Exelon, the utility’s parent company, has said the increase was in part due to “favorable weather” and higher distribution rates.
The company proposed a rate hike again this year, but quickly withdrew the proposal after backlash. Peco had said it needed to increase prices for upgrades, to meet demand, including to prepare for data centers, and increase grid reliability. The company also cited extreme weather conditions, which can damage infrastructure.
Peco and its worker union, IBEW local 614 reached a tentative agreement on a new union contract this week, ending the company’s first worker strike in its history, which lasted three days.
