AmeriHealth

Execution of the Lease for the AmeriHealth Caritas headquarters at Ellis Preserve in Newtown Square, PA was the most significant transaction to occur in Suburban Philadelphia in 2018. In addition to the immediate construction jobs that have been generated to complete the project, the relocation and expansion of the AmeriHealth Headquarters and the addition of 2,000 workers has delivered significant economic benefits to the local merchant base and the entire community. The property tax revenue generated by the net addition of 378,000 SF of office space will provide long term stability for Delaware County, Newtown Township, and the Marple Newtown School District.

AmeriHealth Caritas, the region’s largest Medicaid managed care company has executed a long-term lease to relocate its headquarters to Ellis Preserve in Newtown Square.

In late 2020, AmeriHealth began the move of its corporate offices into the five-story, 378,000-square- foot office building developed by affiliates of Equus Capital Partners at Ellis Preserve

In seeking a new headquarters location, AmeriHealth Caritas was firmly committed to stay within Delaware County and concentrated on finding the one location that provided the best platform to not only retain their current employees but also enabled the company to attract talented new associates. Ellis Preserve offers a fresh, new environment for AmeriHealth’s employees. Ellis Preserve uniquely offers the area’s most complete menu of amenities including dining, fitness, daycare, shopping and onsite residences in a beautiful and timeless campus environment. The Ellis Preserve success story is rooted in Equus’ vision to create a “Suburban Vibrant Community” thoughtfully planned and developed to support an experiential live/work balance that its stakeholders crave.

While a new corporate headquarters is notable for AmeriHealth Caritas, it is also significant for Ellis Preserve. It is the last major office building that had been planned to be built at the mixed-use property.

This new headquarters building represents the next major milestone in the vision for Ellis Preserve that began 15 years ago at a time when the 210-acre campus was just 30 percent occupied and employed fewer than 150 people. With this latest announcement, Ellis Preserve is Delaware County’s center of economic growth, and along with its neighbor SAP, will be home to more than 50 business and 8,500 jobs. With AmeriHealth Caritas Lease now signed at Ellis Preserve, just 30 acres remain to be developed in this mixed-use community. Construction of this final phase is now well under way with full project completion expected late 2023.

While Ellis Preserve had previously received approvals to redevelop the campus as a PRD Master Planned Community, the site chosen for AmeriHealth was approved for only 270,000 SF. Equus Development’s team expeditiously secured re-approvals for 378,000 SF by working relationships in an intricate government approval process. Simultaneously, Equus Development teamed with select architects, engineers, land planners, general contractors and other professionals to advance project design, value engineering and construction to ensure on time and on budget delivery of the AmeriHealth Caritas Headquarters. This success was achieved despite the challenges and obstacles presented by a global pandemic during the construction process.