Burlington Stores Relocates Headquarters to Philadelphia in $370 Million Schuylkill Yards Expansion

Burlington Stores is moving its corporate headquarters from New Jersey to Philadelphia, bringing 2,000 jobs and a $370 million investment to the Schuylkill Yards development. The relocation, announced on September 3, 2026, is backed by $37 million in public incentives negotiated by Pennsylvania Governor Josh Shapiro and Philadelphia Mayor Cherelle Parker.[1][4][6]

The off-price retailer will purchase property at 3151 Market Street, an office and lab tower developed by Brandywine Realty Trust in the University City district. The $370 million capital investment covers the acquisition and build-out of the new office space, shifting the company's workforce from its current base in Burlington, New Jersey, where it has operated since 1972.[1][4][6]

To secure the move, state and local officials assembled a $37 million incentive package. The Pennsylvania Department of Community and Economic Development provided $30 million in support, including a $20 million Redevelopment Assistance Capital Program grant and a $10 million Pennsylvania First grant. The city of Philadelphia contributed an additional $7 million forgivable loan alongside a Job Creation Tax Credit.[1][4][6]

"Pennsylvania is competing to win — and today, we're delivering a major win for Philadelphia and our Commonwealth," Governor Shapiro stated during the September 3 announcement. Mayor Parker echoed the sentiment, noting that the influx of 2,000 daily commuters will provide a vital economic boost to downtown transit networks and local retail, adding another Fortune 500 company to the city's roster.[1][4][6]

The relocation counters a narrative of urban commercial decline. While many cities struggle with office vacancies hovering above 20% in 2026, Philadelphia's Schuylkill Yards—a $3.5 billion master-planned district—has managed to attract a major corporate tenant across state lines. SEPTA and the Philadelphia Parking Authority are also offering discounted commuter savings to integrate the new workforce into the city's transit infrastructure.[1][4][6]

For Burlington Stores, the move offers access to a broader, transit-connected talent pool. CEO Michael O'Sullivan cited proximity to the 30th Street Station, a major Amtrak and regional rail hub, as a deciding factor. "We were strongly attracted to the energy, talent, and infrastructure that Philadelphia has to offer," O'Sullivan said, emphasizing the appeal of relocating administrative teams from a car-dependent suburban campus to a dense urban center.[1][4][6]

The departure marks a significant loss for New Jersey, which loses its namesake corporate resident and a major source of local tax revenue. New Jersey business leaders pointed to the state's 11.5% corporate tax rate—the highest in the nation—compared to Pennsylvania's 7.49% rate, which is scheduled to decline to 4.99% by 2031. Michele Siekerka, president of the New Jersey Business and Industry Association, called the move a warning sign that businesses will cross the river for a more competitive environment.[6]

The transition is scheduled to begin in phases, with the first wave of employees expected to occupy the Schuylkill Yards site over the next five years. The company, which currently operates 1,300 stores across 47 states, will finalize its architectural plans and begin interior construction, setting the stage for one of the largest corporate relocations in Philadelphia's recent history.[1][4][6]