The Radian Group decision to move its headquarters from Center City to Wayne and shrink the space it used to occupy by over two-thirds makes the company an early outlier, writes Natalie Kostelni for the Philadelphia Business Journal.

While several major companies, including Facebook and Ford Motor, have decided to go fully remote after the pandemic, the majority of businesses are hesitant to make any major commitments at this time.

Most are following how the coronavirus will play out this fall and waiting to see how the current hybrid arrangements will work out before making major changes to their space needs.

“Radian Group is a bit of a unicorn,” said Scott Miller, a broker with CBRE Inc. “We have not seen urban tenants want to exit the city in a meaningful way. What Radian did is really unique. They rolled the dice on millions of dollars of lease obligation.”

Radian made the decision after surveying its employees and learning about their preferences.

Around eighty percent “enjoyed working from home and would like to continue some degree of flexibility,” said Frank Hall, Radian CFO. “We listened to our employees and made the decision that works well for Radian.”

Read more about Radian Group in the Philadelphia Business Journal.