Equus Capital Partners Is Leaving Center City For The Suburbs
When its lease runs out in 2018, Equus Capital Partners will be leaving its Center City home for a new HQ in suburban Newtown Square.
Equus will be moving into Ellis Preserve, a master planned, mixed-use community stretching over 218 acres, which it owns and has been developing in stages since 2004, the Philadelphia Business Journal reports. The development already contains 975k SF of offices, which Equus says is 99% leased, and a 110k SF retail complex anchored by a Whole Foods.
Equus' new headquarters will be a 42k SF building, which is under construction, along with a 138-room Hilton Garden Inn, a 25-unit multifamily development, and 66 for-sale townhouses. Equus will be leaving behind 35k SF in Centre Square by City Hall, in downtown Philadelphia where it has been for 30 years.
Equus CEO Dan DiLella told the PBJ city-specific problems, such as high business taxes, were the reason for the move, but also praised the live/work/play advantages of Ellis Preserve for his employees in a statement.
