by Steve Lubetkin, Globest.com
Equus Capital Partners will move its Philadelphia area executive offices in 2018 to a new 42,000 square-foot headquarters building to be located at its Ellis Preserve development, a 218-acre master planned mixed use community located in Newtown Square, PA. Ellis Preserve is owned by Equus affiliates and has been in various phases of development since 2004. Construction on the new Equus headquarters will begin this spring.
In moving to Ellis Preserve, Equus wants its staff of real estate professionals to experience first-hand the unique Ellis Preserve environment, the convenient amenities provided by the Ellis Preserve retail stores, fitness center and restaurants, as well as the vibrant residential growth underway on site.
“We have worked hard on making Ellis Preserve what it is today,” says Steve Spaeder, CEO of Equus’ development arm, BPG Development Company. “We have long been big believers in Ellis Preserve as a live/work/play destination, and now we are happy to join the 35 other companies who have established headquarters and operations within the Ellis Preserve campus.”
Located at Routes 3 and 252, Ellis Preserve currently contains 975,000 square feet of office space, which is 99 percent occupied, as well as a new, 100-percent leased 110,000 square foot retail center anchored by Whole Foods. Construction is currently underway at the site for a 138 room Hilton Garden Inn, a 252-unit mid-rise multifamily community to be known as Madison at Ellis Preserve, and 66 for-sale townhomes. In addition, Toll Brothers recently acquired land at the site and will develop 76 carriage-style townhomes. The site adjoins the 100 acre, 650,000 square foot North American headquarters of SAP America.
“Our decision to move to Ellis Preserve is a reflection of our firm’s broader office investment strategy,” says Dan DiLella, CEO of Equus Capital Partners. “We have targeted in-fill suburban vibrant communities because the majority of job and population growth has been realized in suburban areas that provide an energetic, creative and livable environment. Ellis Preserve, as a prime example of one of these communities, will support our business goals of attracting and retaining talented professionals who seek to balance a career and an active social life with good schools and safe neighborhoods.”