Toll Bros. relocating to Upper Dublin
Company will relocate to Upper Dublin in the fall
UPPER DUBLIN >> Toll Brothers has found a location for its new corporate headquarters. The luxury home builder will soon occupy 163,000 square feet in an office building at 1140 Virginia Drive in Upper Dublin.
CBRE Group has announced that it has arranged the long-term lease for Toll Brothers — a transaction it describes as “one of the largest office deals of 2018.”
Toll Brothers began looking for new space because the lease on its current headquarters building in Horsham was up for renewal, according to the company.
According to Douglas C. Yearley Jr., chairman and CEO of Toll Brothers, the company was looking for a site that would, “energize our organization and set us up for future growth.”
“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,” he said in a press release.
The transaction was finalized in December 2018 — a process that took about two years to complete, according to a spokeswoman for CBRE.
“Toll Brothers conducted a thorough site selection process and 1140 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,” Scott Miller, CBRE executive vice president, said in the release.
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. Additional im-
provements will include a dedicated improved exterior entry to Toll Brothers as well as an upgraded courtyard area.
Yearley added that Toll Brothers is working with D2, a 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,” he said.
Toll Brothers expects to relocate its approximately 900 employees from its current space at 250 Gibraltar Road in Horsham in the fall of 2019.
“We look forward to the participation from their organization and employees as new corporate citizens here,” Ira S. Tackel, president, Upper Dublin
Township Board of Commissioners, said in the release. “Toll Brothers’ commitment to relocate to Fort Washington will result in a significant positive impact on our local economy.”
The CBRE team of Miller, and Rija Beares, first vice president, represented Toll Brothers during the lease negotiations.