Burlington Stores Moves Headquarters to Philadelphia in $370 Million Deal

Burlington Stores Inc. is relocating its corporate headquarters from Burlington County, New Jersey, to Philadelphia's University City in a $370 million investment. The Fortune 500 retailer is purchasing a 400,000-square-foot office building at 3151 Market Street within the Schuylkill Yards development, a project by Brandywine Realty Trust.

The move is expected to bring at least 2,000 jobs to Philadelphia over the next five years, including 500 new hires and approximately 1,500 to 1,600 relocating employees. To secure the deal, the Commonwealth of Pennsylvania provided $30 million in grants, split between a $20 million Redevelopment Assistance Capital Program grant and a $10 million Pennsylvania First grant. The City of Philadelphia added a $7 million forgivable loan and job-creation tax credits. Local agencies SEPTA and the Philadelphia Parking Authority are also providing discounted commuter savings for the new workforce.

CEO Michael O’Sullivan stated the company had outgrown its New Jersey facilities, though it will maintain its warehouses and distribution centers in that state. New Jersey business leaders criticized the loss, citing high corporate tax rates as a contributing factor. Governor Josh Shapiro described the relocation as one of the largest corporate moves in the commonwealth's history, while Mayor Cherelle Parker highlighted the move as a vote of confidence in the city's people and workforce development.