Shire plc has decided to have a new campus constructed at the Atwater Corporate Center off Route 29 in Malvern, Pa.
The company, which had been considering the move for several months, said it has signed a letter of intent to have a 600,000-square-foot complex built at the site that is owned by Trammell Crow Co. The space will serve as Shire’s U.S. headquarters for its special pharmaceutical and corporate functions.
The decision to relocate to Atwater brings to a conclusion a process that started in 2011 when the company said it was launching an evaluation of its space options. The company said it would consider relocating its North American headquarters out of the Chesterbrook Corporate Center in Wayne, Pa., and possibly moving to New Jersey or Delaware. Shire occupies 425,000 square feet at Chesterbrook and the company’s move will leave a gaping hole there.
Shire’s move to Atwater still has some hurdles to cross. The company said in a statement that it needs to select a developer, execute final agreements, which are expected to be done by December, line up land-use approvals, and get an OK from Shire’s board. The company said it is expected to begin moving from Chesterbrook toward the end of 2015.
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