Home equity lender Spring EQ is returning to Philadelphia’s Cira Centre with a new 27,000-square-foot office lease. The company plans to consolidate approximately 250 employees from its Conshohocken and Mount Laurel locations into the University City tower.

Located at 2929 Arch Street, Cira Centre is a 29-story office building owned by Brandywine Realty Trust. Spring EQ secured the entire seventh floor through a long-term lease, with employees scheduled to begin occupying the space October 21.

The move brings approximately 150 Conshohocken employees and 100 Mount Laurel employees together under one roof. Both teams currently follow a hybrid schedule requiring three office days per week.

Company leadership believes consolidating its sales, operations, and technology departments will improve collaboration and productivity. Additionally, the new location offers convenient access to 30th Street Station and regional rail connections.

Notably, Cira Centre served as Spring EQ’s original headquarters when the company launched approximately a decade ago. Its initial office occupied roughly half of the building’s fifth floor.

The new lease more than doubles the company’s original footprint within the property. However, the 27,000-square-foot space is slightly smaller than its combined 31,000 square feet across two suburban locations.

Spring EQ previously maintained offices at 1 West Elm in Conshohocken and 300 Fellowship Road in Mount Laurel. The company also occupied space at Radnor Corporate Center following its return to in-person operations in 2022.

The new Cira Centre office features collaborative workspaces, conference rooms, a training facility, and a dedicated media room. Employees will also have access to building amenities, including a fitness center and large meeting space.

For Philadelphia’s commercial real estate market, the transaction highlights the continued appeal of transit-accessible office properties. Companies seeking stronger collaboration may prioritize centralized locations with convenient transportation and modern workplace amenities.

Furthermore, the lease demonstrates how businesses are reevaluating office footprints to support hybrid work arrangements. Although Spring EQ is reducing its overall square footage, it is investing in a centralized workplace.

Spring EQ’s return to Cira Centre represents a notable office leasing transaction in University City. The move also reinforces the importance of location, accessibility, and workplace design in corporate real estate decisions.

*Article courtesy of Philadelphia Business Journal

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