Sunoco Moving Headquarters Out of Center City
Philadelphia Business Journal reports: “Sunoco Inc. will relocate its corporate headquarters to the suburbs in a blow to Center City, which has witnessed other companies move their offices out of Philadelphia.”
Sunoco will move to Ellis Preserve in Newtown Square, Pa., according to various sources familiar with the matter. It will occupy more than 200,000 square feet. Sunoco officials couldn’t immediately be reached for comment.
Sunoco is currently located in Mellon BankCenter at 1735 Market St. and has shrunk its space in that office tower. The company’s decision to move creates another dent in Mellon Bank, which will seeFMC Corp. vacate 250,000 square feet and saw other firms cut back on their occupancy. Mellon Bank totals 54 stories and 1.3 million square feet and is owned by CommonWealth REIT.