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NEWTOWN SQUARE, PA-After an extensive search throughout the Philadelphia suburbs and Wilmington, DE, the Project Management Institute has signed a 10-year lease for the full 70,000-sf building at 14 Campus Blvd. This November it will relocate its world headquarters from the 32,000-sf building it owns at Four Campus Blvd. in the same Newtown Square Corporate Campus.

Radnor-based Brandywine Realty Trust owns the three-story, class A property at 14 Campus Blvd. John Perkins, SVP in the King of Prussia office of Grubb & Ellis, represented PMI in the search and negotiations, and Brandywine was represented in-house.

PMI had already expanded beyond its headquarters into additional leased space in the center. “Early on in the process of looking to expand and relocate, 14 Campus Blvd. was leased by other tenants and not available,” Perkins says. “Fortunately, a series of timely events occurred that enabled PMI to gain control of the entire building. The ability to consolidate under one roof and stay within the campus made the organization’s relocation decision much easier than it could have been had this option not presented itself.”

Meanwhile, PMI has retained Grubb & Ellis to lease up the Four Campus Blvd. building to tenants looking for terms of between three and five years. Perkins tells GlobeSt.com, “they intend to retain the property for future expansion. The property is divisible, and the asking rent rate is $24.50 plus electric,” he says, “which is market rate throughout the campus.”

PMI publishes standards related to project management and manages levels of certification for project management professionals. It has more than 220,000 members and 240 local chapters in 67 countries.

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