Rubenstein Partners announces BNY signs 42,000 s/f lease at Chesterbrook in Wayne, PA

Leasing momentum accelerates across Chesterbrook office park

Wayne, PA — Rubenstein Partners, L.P. (including its affiliates, “Rubenstein” announced that BNY has signed a long-term, 42,000 s/f lease at 965 Chesterbrook Blvd., part of the Chesterbrook office park in Wayne. The lease will occupy the entire second floor of the three-story building and will serve as a regional southeast Pennsylvania office for the global financial services platforms company.

The transaction marks another significant leasing milestone for 965 Chesterbrook Blvd. and follows recent commitments from Hartford Steam Boiler, which leased the entire third floor of the building, and Rosenberg & Parker, which leased half of the first floor.

With these transactions, the 965 Chesterbrook Blvd. building is nearing full occupancy as tenant demand continues to build across the 14-building campus. The Chesterbrook office park has continued to experience substantial leasing activity over the last few years with 19 new leases signed over the past 24 months, comprising over 300K s/f.

“We are thrilled to welcome BNY to Chesterbrook and continue the tremendous leasing momentum we are experiencing across the park,” said Brian Simel with Rubenstein Partners. “The recent activity throughout Chesterbrook demonstrates the ongoing demand for high-quality, amenity-rich office environments that support both employee experience and long-term business growth. BNY’s commitment further validates Chesterbrook’s position as one of the region’s premier office destinations.”

Rubenstein Partners was represented in the transaction by Whit Hunter, Mike MacCrory, and Doug Newbert from Jones Lange Lasalle. A separate team from Jones Lange Lasalle represented BNY.

The Chesterbrook campus remains one of the largest office parks in the region and a premier destination for office tenants in Philadelphia. The centerpiece of the highly amenitized campus is The Circuit, a two-story, 41,331-square-foot amenity center that provides tenants with a place to work, collaborate or socialize with colleagues. The Circuit also includes Flex at Chesterbrook, a 20,000 s/f co-working space located on the second floor of the facility.

Rubenstein acquired the Chesterbrook property in 2019 and embarked on a full reimagining of the complex through a multimillion-dollar capital improvement plan that improved the campus and upgraded the interior and exterior of the buildings. Campus connectivity at Chesterbrook was also improved by adding new pathways linking to the nearby network of trails at Wilson Farm Park in addition to upgrades such as touchless technology and HVAC improvements.

The bucolic campus is nestled into the hills around Valley Forge and sits on the edge of Chester County in Treddyfrin-Easttown Township, a region with superior tax benefits when compared to office buildings in other nearby submarkets.

The Chesterbrook properties include 1300 Morris Dr., 1325 Morris Dr., 1400 Morris Dr., 851 Duportail Rd., 955 Chesterbrook Blvd., 965 Chesterbrook Blvd., 725 Chesterbrook Blvd., 735 Chesterbrook Blvd., 600 Lee Rd., 601 Lee Rd., 620 Lee Rd., 640 Lee Rd., 690 Lee Rd., and 701 Lee Rd.