NEWTOWN SQUARE, PA-In connection with its move out of Center City in Philadelphia, Sunoco has acquired two office buildings at Ellis Preserve here totaling 233,000 square feet.

The transaction was announced by brokerage firm Binswanger, which represented Sunoco in the transaction. Sunoco announced it would relocate from its offices at Mellon Bank Center in Philadelphia in December. No terms of the transaction were reported.

Sunoco plans to commence renovations of the existing buildings immediately, with the scheduled completion estimated for the second quarter of 2015. The transaction was handled by Binswanger president and CEO David Binswanger and SVP Scott Williams.

“This is a great opportunity for Sunoco to unify many of its employees as they move forward with their exciting future. Ellis Preserve is an ideal location for them, not only is it a beautiful spot, but it sits centrally relative to their locations,” states Binswanger.

“Sunoco's internal considerations created deadlines and confidential issues that are not always experienced on these types of searches,” Williams adds. “We followed a somewhat unique process in order to accommodate their needs, but ensured that they found the kind of facility that they required.”