King of Prussia Real Estate Company Sells Exton Property to Meridian Bank for $3.69M

The financial institution bought 367 Eagleview Boulevard bought by Meridian Bank
Image via Willner Properties.
The financial institution bought 367 Eagleview Boulevard in Exton from a King of Prussia Property Group.

After outgrowing its Malvern headquarters, Meridian Bank has purchased a 32,800-square-foot office building in Exton it will use to expand, writes Natalie Kostelni for the Philadelphia Business Journal.

The financial institution bought 367 Eagleview Boulevard for $3.69 million from Willner Properties, a real estate development, leasing, and management company in King of Prussia, which acquired the property vacant from Catholic Health Initiatives nearly a year ago.

Meridian Bank went on the search for more space after September 13, when all employees returned to the office following months of remote work due to the COVID-19 pandemic. It was soon after this that Chris Annas, CEO and founder of the bank, realized that the 29,000-square-foot building the bank was using no longer met their needs.

“We didn’t have enough seats,” he said. “We are growing quickly here.”

The bank has a total of 440 employees, with 160 of them working from its headquarters. Over the last few years, the bank has built up its SBA loan and equipment finance business along with commercial real estate lending.

Some of this growth occurred while the majority of the bank’s employees were working remotely.

As a result, the bank did not realize it required more space until all employees were back in the office.

Read more about Meridian Bank in the Philadelphia Business Journal.