Asset management firms are breaking ground as their businesses continue to grow. Vanguard [profile], which bases much of its business in Pennsylvania, will have its first new office structure in the corporate park since 2004 and SEI Investments [profile] is constructing its 190th building at its campus in Oaks, Pennsylvania, after halting the project in 2008, The Philapelphia Business Journal's Natalie Koesteni reported.

The Vanguard building, to be called Three Quarry Ridge, will stand six stories, have a five level parking garage and total 200,000 square feet. Vanguard paid $40 million last year to buy a former pharmaceutical campus in Malvern, Pennsylvania, Koesteni writes.

SEI is experiencing good growth again and that's driving their need for more office space. Once it is finished, the total amount of space that SEI has on this campus will come to 560,000 square feet.

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Edited by: Casey Quinlan


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