BakerHostetler has signed a 16-year lease to relocate its Philadelphia offices from Cira Centre in University City to BNY Mellon Center at 1735 Market St. in the Central Business District. The Cleveland-based law firm leased 45,121 square feet, a reduction from the 80,000 square feet it had occupied at Cira Centre. BakerHostetler’s lease was scheduled… Read more »
The Wanamaker building is facing 500,000 square feet of vacant space after Children’s Hospital of Philadelphia exercised an option to terminate its lease at the building and two other tenants decided to move out. The 1.4-million-square-foot building at 100 Penn Square East in Center City has 950,000 square feet of office space and the remainder… Read more »
A Charlotte real estate firm has paid $9.45 million for a 78,000-square-foot building at 1400 N. Howard St. in Philadelphia and plans to invest another $8 million to redevelop it. While the Charlotte real estate firm owns several High Street retail properties near Rittenhouse Square including 1704 Walnut St., it also has a growing presence… Read more »
Axlata Coating Systems Ltd. plans to close its Center City global headquarters office and move out of the 36,000 square feet it has occupied at Two Commerce Square for the last seven years. Employees working out of Philadelphia will relocate to either its 55,000-square-foot North American headquarters off Applied Bank Way in Glen Mills or… Read more »
The properties being marketed are: 656-676 E. Swedesford Road, a two-building complex that totals 147,000 square feet; and the Valley Forge Office Center, which includes 480 E. Swedesford Road, a 49,000-square-foot building, and 500 E. Swedesford Road, a 61,000-square-foot property. No prices have been set for the buildings. The complex at 656-676 E. Swedesford was… Read more »
As many as 85% of tenants in one office landlord’s buildings across the country are still working from home, and its executives say large employers are realizing they may have more of a struggle on their hands in getting everyone back than first anticipated. Brandywine Realty Trust executives are finding that even as some tenant… Read more »
Imvax expected to host an event in April or May to unveil its new headquarters at The Curtis in the Old City section of Philadelphia, but the ongoing pandemic scuttled those plans. “Covid-19 clearly got in the way,” said John Furey, the former Spark Therapeutics executive who was hired as CEO of Imvax last year. “Once… Read more »
Rubenstein Partners is moving forward with a $50 million repositioning of Chesterbrook, which is what the real estate company is now calling and branding the Tredyffrin business park it bought in the summer of 2019. The Philadelphia real estate company has five of the 14 buildings totaling 1.1 million square feet it bought under some… Read more »
It’s with little frequency Philadelphia experiences a ground breaking for a new office building let alone one in the middle of global pandemic but, in a city of firsts, that is what took place Monday morning along the western edge of the Central Business District. Construction began for 2222 Market St., a $200 million office… Read more »
Ensemble Real Estate Investments has bulked up on its Philadelphia Navy Yard holdings and paid $83 million for a three-building portfolio. The purchase of the properties means Ensemble has solidified its presence at the Navy Yard, establishing a critical mass at the site and stepping in where Liberty Property Trust left off. The real… Read more »
