Listen to article \u2022\u00a00:00 min<\/p>\n
Philadelphia officials are celebrating the news that Burlington Stores is moving its headquarters <\/a>to University City<\/a>\u2019s Schuylkill<\/a> Yards. <\/p>\n With the relocation, set to start in two to three years, the discount retailer says it will invest a total of $370 million in the city. The company plans to keep warehouses in Burlington County<\/a>, including on the site of its current headquarters, where it has been based for more than half a century.<\/p>\n \u00bb READ MORE: Burlington Stores is moving its headquarters to Philadelphia<\/a><\/p>\n Here\u2019s what else to know about the big numbers related to Burlington\u2019s move to 3151 Market St.<\/p>\n What does it cost to move to Schuylkill Yards?<\/p>\n $370 million: What Burlington plans to spend on the move<\/p>\n $240 million: How much Burlington is paying for the 441,000-square-foot building, according to a Thursday SEC filing by Brandywine<\/a>. That\u2019s about $544 per square foot. <\/p>\n $130 million: How much Burlington plans to spend on \u201cdesign and development of the space, creating an HQ built for collaboration and the modern needs of Burlington\u2019s corporate workforce,\u201d a spokesperson said.<\/p>\n $223 million: What Brandywine had spent on 3151 Market, as of June 30, according to its latest earnings report<\/a>.<\/p>\n $168 million: How much Brandywine estimates it will get from the sale. The company said in an SEC filing <\/a>that it has a $57.3 million mortgage on the building that will be repaid at closing, which is set for later this month.<\/p>\n 96%: The vacancy rate at 3151 Market, which was completed in 2024.<\/p>\n What government incentives are going to Burlington?<\/p>\n $30 million: How much Burlington is set to receive in grants from Pennsylvania.<\/p>\n