CBRE today announced that it has arranged a long-term lease for Toll Brothers’ new corporate headquarters located at 1140 Virginia Drive in Fort Washington, Pennsylvania. Toll Brothers, the nation’s leading builder of luxury homes, will occupy 163,000 sq. ft., making the transaction one of the largest office deals of 2018.
The CBRE team of Scott Miller, Executive Vice President, and Rija Beares, First Vice President, represented Toll Brothers during the lease negotiations.
“Toll Brothers conducted a thorough site selection process and1140 Virginia Drive was identified as the ideal site for the relocation of its headquarters due to the unique structural elements of the building as well as the amenity base it will provide to its employees,” said Mr. Miller. “The new corporate headquarters will enable Toll Brothers to provide its employees with a workplace environment which mirrors the world-class residential homes it delivers to its customers.”
The building’s landlord, Somerset Properties, spent more than $10 million redeveloping the property, which included the conversion of former warehouse space to loft office space.
“We were founded in the Philadelphia area over 50 years ago and wanted a new home in the region that would energize our organization and set us up for future growth,” stated Douglas C. Yearley, Jr., Chairman and CEO of Toll Brothers. “We were also looking for a site that is close enough to our current location to be convenient for employees, while still befitting a Fortune 500 company like Toll Brothers. We finally found it at 1140 Virginia Drive. To help us transform the space, we’re working with D2, a nationally acclaimed design firm that specializes in creating inspiring workplaces. We’re completely renovating the interior and putting a Toll Brothers stamp on the exterior, creating a state-of-the-art facility that will excite current and future employees and support our business for years to come.”
“We are pleased to welcome Toll Brothers to Upper Dublin Township as they join the growing business community in the Fort Washington Office Park,” said Ira S. Tackel, President, Upper Dublin Township Board of Commissioners. “We look forward to the participation from their organization and employees as new corporate citizens here. Toll Brothers’ commitment to relocate to Fort Washington will result in a significant positive impact on our local economy.”
Toll Brothers is expected to relocate its approximately 900 employees from their current space at 250 Gibraltar Road in Horsham, Pennsylvania, in the fall of 2019.
The CBRE team of Scott Miller, Executive Vice President, and Rija Beares, First Vice President, represented Toll Brothers during the lease negotiations.
“Toll Brothers conducted a thorough site selection process and1140 Virginia Drive was identified as the ideal site for the relocation of its headquarters due to the unique structural elements of the building as well as the amenity base it will provide to its employees,” said Mr. Miller. “The new corporate headquarters will enable Toll Brothers to provide its employees with a workplace environment which mirrors the world-class residential homes it delivers to its customers.”
The building’s landlord, Somerset Properties, spent more than $10 million redeveloping the property, which included the conversion of former warehouse space to loft office space.
“We were founded in the Philadelphia area over 50 years ago and wanted a new home in the region that would energize our organization and set us up for future growth,” stated Douglas C. Yearley, Jr., Chairman and CEO of Toll Brothers. “We were also looking for a site that is close enough to our current location to be convenient for employees, while still befitting a Fortune 500 company like Toll Brothers. We finally found it at 1140 Virginia Drive. To help us transform the space, we’re working with D2, a nationally acclaimed design firm that specializes in creating inspiring workplaces. We’re completely renovating the interior and putting a Toll Brothers stamp on the exterior, creating a state-of-the-art facility that will excite current and future employees and support our business for years to come.”
“We are pleased to welcome Toll Brothers to Upper Dublin Township as they join the growing business community in the Fort Washington Office Park,” said Ira S. Tackel, President, Upper Dublin Township Board of Commissioners. “We look forward to the participation from their organization and employees as new corporate citizens here. Toll Brothers’ commitment to relocate to Fort Washington will result in a significant positive impact on our local economy.”
Toll Brothers is expected to relocate its approximately 900 employees from their current space at 250 Gibraltar Road in Horsham, Pennsylvania, in the fall of 2019.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
