Berks

UGI Energy Services moving headquarters to VF Outlet Center

WYOMISSING, Pa. - UGI Energy Services will become the first new tenant of the soon-to-be redeveloped VF Outlet Center complex in Berks County.

The company announced Thursday that it will adapt one of the property's original buildings for its new headquarters and relocate about two-thirds of its 250 employees to the site.

"As we looked for a location where we could expand our headquarters, we were committed to maintaining our presence in the greater Reading community," said Bradley Hall, the president of UGIES.

The company said it has more than doubled in size over the past 10 years, outgrowing its current space at One Meridian Boulevard in Spring Township, which was recently sold by Equus Capital Partners, a Philadelphia-based private real estate investment management firm that announced Thursday its purchase of the VF site.

Equus acquired One Meridian Boulevard in 2005 and redeveloped the 63-acre site, taking it from 18 percent occupancy in 2005 to 98 percent occupancy in 2016.

The firm said it expects to have similar success with the VF property, with plans to create a center that features a mix of office, retail and restaurant space.

"Equus has a strong record of success in the region and is committed to attracting and retaining major employers that add to economic viability of the region," said Kevin Flannery, the vice president of leasing at Equus. "UGI Energy Services is a great example of our dedication to establishing long term relationships that support the economic viability of the area."

"We are excited to be part of the effort to revitalize and maintain the historic VF Outlet Center complex," Hall said.

UGIES is working with Wulff Architects Inc. to design its headquarters, which is expected to be ready for occupancy in late 2018.


DISCLAIMER FOR COMMENTS: The views expressed by public comments are not those of this company or its affiliated companies. Please note by clicking on "Post" you acknowledge that you have read the TERMS OF USE  and the comment you are posting is in compliance with such terms. Your comments may be used on air. Be polite. Inappropriate posts or posts containing offsite links may be removed by the moderator.

This Week's Circulars

STORMCENTER UPDATE

WEATHER ALERT

There is 1 weather alert.   DETAILS >>>

Berks Area News

Latest From The Newsroom