Vanguard is closing one of its Malvern offices
The investment management company continues to maintain roughly half of its workforce in Malvern.
Vanguard is closing its office at 45 Liberty Blvd. in Malvern at the end of June as its lease comes to an end, moving employees who work there to the company’s nearby main campus.
“As part of our normal course of business, we regularly review our real estate footprint and make adjustments over time, including in connection with building renovations, lease expirations, and the opening of new facilities,” a Vanguard spokesperson said in a statement.
The company has roughly 12,000 employees based at leased and owned sites in Malvern, out of about 20,000 total, and “continues to maintain a large footprint in the greater Malvern area,” the spokesperson added.
The three-floor office building at 45 Liberty Blvd, built in 1999, spans 137,000 square feet, according to MS Real Estate Management‘s website.
Nearly 88,000 square feet of office space will become available at 145 Liberty after Vanguard’s lease expires, according to an online listing by JLL, a real estate company.
Vanguard didn’t answer questions about the size of its office space or how many people worked there.
Microsoft has an innovation hub at the same address.
Exiting this building is just the latest real estate move for Malvern-headquartered Vanguard which purchased a 300,000 square-foot property at nearby 1400 Atwater Dr. several years ago.
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The office complex that Vanguard is leaving was bought by New Jersey real estate company FLD Group in 2021 in a $36.3 million deal, the Philadelphia Business Journal reported at the time.
FLD Group was not reachable for comment. Representatives of real estate firm, JLL, which has a brochure of the site on its website, did not respond to a request for comment.
