In order to consolidate several local offices into a single location, PayPal has signed an 11-year lease on 99,500 square feet in a five-story building at the Metroplex Corporate Center in Plymouth Meeting, writes Natalie Kostelni for the Philadelphia Business Journal.
The building at 4000 Chemical Road will allow the company to occupy four adjoining floors. That is roughly three times the space PayPal currently uses.
“Due to the continued growth of our business, we are moving from our current offices in Conshohocken to the Metroplex building in Plymouth Meeting to allow for continued expansion over the next several years,” said a PayPal spokesperson.
The company acquired several locations in the region after it bought Wilmington-based Swift Financial three years ago. At the time, Swift had existing offices in Wilmington and Conshohocken.
“The Conshohocken office mainly houses members of our business financing solutions team, who focus on providing small business with access to business loans,” said the spokesperson.
The Conshohocken team is also helping small businesses to get access to loans that are being made available through the U.S Small Business Administration’s Paycheck Protection Program.
Read more about PayPal at the Philadelphia Business Journal by clicking here.