Philadelphia officials are celebrating the news that Burlington Stores is moving its headquarters to University City’s Schuylkill Yards.
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, including on the site of its current headquarters, where it has been based for more than half a century.
Here’s what else to know about the big numbers related to Burlington’s move to 3151 Market St.
What does it cost to move to Schuylkill Yards?
$370 million: What Burlington plans to spend on the move
- $240 million: How much Burlington is paying for the 441,000-square-foot building, according to a Thursday SEC filing by Brandywine Realty Trust. That’s about $544 per square foot.
- $130 million: How much Burlington plans to spend on “design and development of the space, creating an HQ built for collaboration and the modern needs of Burlington’s corporate workforce,” a spokesperson said.
$223 million: What Brandywine had spent on 3151 Market, as of June 30, according to its latest earnings report.
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$168 million: How much Brandywine estimates it will get from the sale. The company said in an SEC filing that it has a $57.3 million mortgage on the building that will be repaid at closing, which is set for later this month.
96%: The vacancy rate at 3151 Market, which was completed in 2024.
What government incentives are going to Burlington?
$30 million: How much Burlington is set to receive in grants from Pennsylvania.
$8 million: What the City of Philadelphia plans to invest in Burlington’s move, including a $7 million forgivable loan and $1 million for a year of free SEPTA passes for employees.
How much of Burlington’s workforce is coming to Philly?
1,500: Number of Burlington employees the company plans to move from New Jersey to Philadelphia, starting in late 2028 or early 2029
500: Number of hires Burlington plans at its new headquarters in the next five years
0: Number of layoffs Burlington has planned as a result of the headquarters relocation
Inquirer reporter Joseph N. DiStefano contributed to this article.
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