Citybizlist
By Win Warfield
May 21, 2025
Leasing momentum demonstrates demand for well-located and amenitized suburban office space
Accesso, a fully integrated investment manager and operator of multi-tenant office, mixed-use and multifamily assets, today announced that it has signed more than 31,000 square feet in leases year-to-date at Westlakes, a Class-A office complex located on Westlakes Drive in Berwyn, PA, part of the Philadelphia MSA. The leasing activity includes multiple expansions and extensions, reflecting the value created by Accesso’s hands-on property management and ability to reinvest in office properties throughout its portfolio to enhance the tenant experience.
“Westlakes’ robust recent leasing momentum signifies market demand for high-quality office space and a strong preference for properties that are ideally located and thoughtfully modernized,” said Deb Kolar, General Manager for Accesso. “Westlakes’ contemporary outdoor spaces, on-site hotel and ample collaboration areas make it an ideal option for tenants, which is reflected in the lease extensions and expansions among those that already call the property home. Moreover, as more companies implement return-to-office policies and determine their long-term needs, the complex is well-suited to accommodating commuters throughout the Philadelphia suburbs. We look forward to continuing to build long-term relationships with our tenants at the property.”
Approximately 21,000 square feet of the leases were signed in Q1 2025, with nearly 10,000 square feet executed since. The new leases include:
- A 10-year extension and expansion for LPL Financial, an investment and wealth management firm (~9,000 square feet total);
- A 5-year extension and expansion for Sequoia Financial, an investment advisory services company (~8,000 square feet total);
- A 7-year extension and expansion for East Bay Merchants, a privately-held holding company and boutique asset management firm (~7,000 square feet total);
- A 5-year renewal for JO Hambro Capital Management, an active investment company (~3,000 square feet); and
- A 1-year renewal for TCI Holding Company, a value-oriented, fundamental investment firm (~3,000 square feet).
Westlakes is comprised of four buildings totaling more than 455,000 square feet and is situated in the popular King of Prussia submarket, near the intersection of Routes 202 and 252. It provides easy access to many of Greater Philadelphia’s primary roadways and is located minutes from the King of Prussia Mall and Town Center. The complex offers a Fairfield Inn & Suites by Marriott and other on-site amenities including multiple dining options with a full-service café, two fitness centers equipped with locker rooms and showers, a yoga studio and immediate access to Chester Valley Trail.
A capital improvement program to refresh the property’s fitness centers is currently underway and is expected to be completed by the end of Q3 2025. Renovations include a reconfiguration of the amenity space to incorporate the yoga room into the fitness center, a remodeling of the locker rooms and new fitness equipment. Westlakes’ conference center also underwent a modernization in 2024, which included new furniture, finishes and technology.