Here’s Where Vanguard Will Set Up Its Philly Office
It’s official: Vanguard will open a satellite office in Philly and now we know exactly where.
The Malvern-based company will house its innovation center at 2300 Chestnut Street—a strategic location that places the firm at the edge of Center City and very close to West Philadelphia.
The mutual fund giant’s entrepreneurial hub will occupy nearly 16,000 square feet of open plan office space over two floors of what’s known as the Philadelphia Design Building. It’s been branded as a space for “creative users” like designers, architects and engineers.
“The building is historic,” Vanguard spokeswoman Arianna Sherlock told Philadelphia magazine. “And it felt like a great spot because it gives us access to the business and academic communities because it’s Center City but a fair bit west,” she said, noting the location’s proximity to 30th Street station and easy access to the airport or Vanguard’s headquarters in Valley Forge.
Vanguard wants the space to eventually support 100 team members and external partners, but they’ll be starting out with 20 at the location that they expect to open during the second quarter this year.
“It’s really important to have a Philly space to give the team a healthy distance from headquarters’ demands,” Sherlock said.
And as we suspected back when news of the innovation center first broke in November, Vanguard’s push for an R&D space right in Philly is in line with a number of other companies looking to get close to entrepreneurial talent. FMC CEO Pierre Brondeau is even urging other companies to move farther west of Center City.
And Vanguard didn’t do it all alone. They got some encouragement from Mayor Kenney’s team, including the Department of Commerce and PIDC. They’ve even begun collaborating with Penn, Drexel and others.
“We are pleased to set up shop in Philadelphia, and give the Vanguard innovation center the benefits and resources of the region’s thriving entrepreneurial scene,” Vanguard CEO Bill McNabb said in a statement.
2300 Chestnut is also home to Lauletta Birnhaum, a New Jersey-based law firm and Saxbys Coffee headquarters.
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