CHOP Extends King of Prussia Expansion with Acquisition of $24.5M Office Building

CHOP continues King of Prussia expansion with $24.5M office building purchase

Expanding its presence in King of Prussia, the Children’s Hospital of Philadelphia has acquired a 97,290-square-foot office building located at 460 N. Gulph Road for $24.5 million. This new property sits opposite CHOP’s recently constructed Middleman Family Pavilion and its accompanying specialty care center.

The acquisition was from UGI Corp., which had purchased the building in 1993 for $9.1 million. Earlier this year, it was reported that UGI Corp., an oil and natural gas company listed on the NYSE, would be relocating its headquarters half a mile away from 460 N. Gulph Road to 500 N. Gulph Road. This move was part of a trend toward superior-quality spaces, as the Brandywine Realty Trust-owned 500 N. Gulph Road underwent a significant $29.7 million renovation in 2019. While CHOP has acquired the five-story building at 460 N. Gulph Road, its specific plans for the property remain undisclosed.

*Article courtesy of Philadelphia Business Journal

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