Radnor-based Brandywine Realty Trust owns the three-story, class A property at 14 Campus Blvd. John Perkins, SVP in the King of Prussia office of Grubb & Ellis, represented PMI in the search and negotiations, and Brandywine was represented in-house.

PMI had already expanded beyond its headquarters into additional leased space in the center. "Early on in the process of looking to expand and relocate, 14 Campus Blvd. was leased by other tenants and not available," Perkins says. "Fortunately, a series of timely events occurred that enabled PMI to gain control of the entire building. The ability to consolidate under one roof and stay within the campus made the organization's relocation decision much easier than it could have been had this option not presented itself."

Meanwhile, PMI has retained Grubb & Ellis to lease up the Four Campus Blvd. building to tenants looking for terms of between three and five years. Perkins tells GlobeSt.com, "they intend to retain the property for future expansion. The property is divisible, and the asking rent rate is $24.50 plus electric," he says, "which is market rate throughout the campus."