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Vanguard Group has completed construction of three 120,000-sf buildings on a 300-acre site in Malvern. The mutual fund giant is also initiating premliminary work on a 250-acre, 2.5 million-sf campus which may enter the first phase of construction in spring of 2002. The multiphase project would begin with the development of two 320,000-sf facilities on 70 acres.