Three new leases totaling 80K SF have been inked at a recently renovated Main Line office building.
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Comcast Advertising, iPipeline and Elemica are each moving into spaces at 1111 Old Eagle School Road in Wayne, which is owned by De Lage Landen Financial Services Inc. CBRE’s Scott Gabrielsen was responsible for marketing and leasing the property.
The renovations, including a new lobby and the addition of a fitness center, were part of a rightsizing campaign for DLL, whose offices will now occupy just 85K SF of the 200K SF building, according to a CBRE release.
The largest lease, for nearly 39K SF, was signed by iPipeline, which provides digital solutions for the life insurance and financial service industries. Comcast is taking almost 33K SF as it moves one of its teams into Wayne from nearby Chesterbrook. Elemica, a digital supply chain manager, is leasing a little more than 8K SF.
“The renovation of our building into first class space was a true labor of love. Our offices are beautiful, and we are excited to share the stunning space with our new neighbors,” DLL U.S. General Counsel Lisa Fleischer said in a statement.
SALES
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A building at 9219 Atlantic Ave. in Margate City has been sold to the Save Lucy Committee. The group is focused on preserving Lucy, a six-story wooden elephant that is reportedly the nation’s oldest roadside attraction. It plans to open a visitor center and gift shop in the building.
Ken Richardson and Emily Stein of Vantage Commercial represented the buyer and the seller.
LEASES
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The organic grocer Kimberton Whole Foods signed a 17,500 SF lease for warehouse space at 711 Haywood Drive in Exton.
The expansion of Kimberton’s warehouse capacity comes as the chain plans to open its eighth location, at nearby Eagleview Town Center, in spring 2026. The strip center is owned by the Hankin Group.
FINANCING
Lument coordinated a $14M loan that will be used to refinance the 41-unit Mi-Place at the Vineyard complex in Lewes, Connect CRE reported. Ben Retter, a director at Lument, led the transaction.
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Radian Guaranty has issued a line of credit worth up to $1M to the Philadelphia Accelerator Fund, which is focused in part on bringing more affordable housing to the city.
THIS AND THAT
There are several job openings at the Philadelphia Housing Development Corp., including one for director of real estate and another for director of multifamily development. More information is available on the organization’s careers page. Anyone who accepts a job with PHDC must move to Philadelphia within six months of their start date and remain in the city as a condition of employment.
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