Philadelphia: Wells Fargo relocates, exiting office and data center in Philadelphia, Pennsylvania

Jul 07, 2023 | Posted by MadalineDunn

Wells Fargo has announced that it is exiting its lease at the Philadelphia Plaza building at 101 N. Independence Mall, leaving its office and data center and relocating to offices in Two Logan Square and Commerce Square.

According to the company, no layoffs are set to take place, and there will be no changes to Wells Fargo’s existing hybrid schedule; instead, the move will see the company consolidate its presence around West Market, where it already has office space. 

Elise Corbett, a spokesperson for Wells Fargo, said that the company has been in the building since 1973, and the move gives the company a chance “to have fresh space.” 

“There are fitness centers on-site. New state-of-the-art training and meeting facilities. Different views of the Parkway, when we’re used to looking over Independence Mall,” Corbett told the Inquirer.

According to the company, the move to the other side of Center City will be phased, beginning in the third quarter of 2023. 

Miller Real Estate Fund II said the building, with its unique infrastructure related to its use as an operations and data center for Wells Fargo, is an opportunity for tenants. Details about how much leased space is dedicated to data center use were not disclosed.