Burlington Stores plans to relocate its corporate headquarters from South Jersey to Philadelphia’s University City neighborhood.
The off-price retailer is purchasing the 441,000-square-foot office building at 3151 Market Street.
Furthermore, Burlington plans to occupy the entire building as its new corporate headquarters.
The relocation represents a $370 million investment by the company. Additionally, Burlington expects to bring 2,000 jobs to Philadelphia within five years.
Pennsylvania is supporting the headquarters relocation with $30 million in state funding.
Burlington expects to begin moving employees into 3151 Market Street in phases. However, occupancy will begin no earlier than late 2028.
The transition could also extend into early 2029. Burlington has not disclosed the property’s purchase price.
Currently, Burlington maintains its headquarters at 1830 Route 130 in Burlington Township, New Jersey.
That 225,000-square-foot building opened in 2014. It forms part of Burlington’s larger corporate campus in Burlington and Florence townships.
The Philadelphia move will provide Burlington with significantly more office space. Moreover, it will establish another Fortune 500 corporate headquarters within the city.
The transaction also represents a significant win for Philadelphia’s evolving office market.
While office demand remains selective, major companies continue targeting high-quality buildings in well-connected locations.
University City offers access to transportation, universities, healthcare institutions, and a growing employment base. Consequently, the neighborhood remains an important destination for major corporate investment.
Burlington’s commitment will also fully occupy a substantial University City office property.
Ultimately, the headquarters relocation combines corporate expansion with a major Philadelphia real estate investment. It also reinforces University City’s position as a leading employment and business district.
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