Vanguard sells one of its Chester County offices for $17 million, but will stay put for now
The Malvern-based company plans to continue to lease the complex, where 600 IT employees work.
Vanguard has sold a Tredyffrin Township office complex for $17 million — with no plans of moving out.
Last month, the Malvern-based investment firm sold its 22-acre property at 1041 W. Valley Rd. to another Malvern-based company, E Kahn Development, according to Chester County property records.
But Vanguard plans to continue leasing the 323,000-square-foot space, which sits just off U.S. Route 202, about eight miles from its main campus in Malvern. Hundreds of Vanguard IT employees work at the complex, called the Robert A. DiStefano (RAD) Technology Center.
The sale and lease-back “reflects Vanguard’s focus on providing work environments that support and inspire our crew as they remain focused on our end investors,” a company spokesperson said in a statement. “Vanguard crew will continue to work at the RAD Technology Center through at least 2028, and there are no immediate plans to move crew who work there today.”
Eli Kahn, president and founder of E Kahn Development, said in an email that his company has “no immediate plans for the buildings.”
Earlier this summer, Vanguard closed a leased office at 45 Liberty Blvd. in Malvern, moving employees there to the company’s 87-acre main campus.
Vanguard employs about 20,000 employees, 12,000 of whom are based in Malvern. About 600 IT staffers work at RAD, Vanguard’s only complex with a Wayne address.
The company is expanding its IT staff worldwide, including at a new office in India, but has said its U.S. workforce will not be impacted.
