Penn State Abington has paid $5.45 million for 1095 Rydal Road, a 31,000-square-foot office building called the Rydal Executive Plaza, writes Natalie Kostelni for the Philadelphia Business Journal. 

The acquisition is a significant one for the college as it grows in the township, along with its campus and enrollment. The school has undertaken $100 million in development.

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It opened its first residence hall this fall, a $50 million project that houses 400 students and it is planning a $50 million, 40,000-square-foot classroom building that will eventually be constructed. It’s just a the beginning of selecting an architect for that campus project.

“It’s not just for growth but to enhance the quality of the programs and address the unmet needs for collaboration spaces, labs and new media,” said Damian Fernandez, chancellor at Penn State Abington, about the new classroom building.

The development projects are on a large scale, the purchase of the Rydal Road building has its own significance. The college occupies about half of Rydal Executive Plaza with a variety of departments including continuing education, alumni affairs and university relations. Medical-related tenants are in the remainder of the building and will remain until their leases expire in 2023. At that point, the school will evaluate how it wants to use the building, which is near a train station.

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