Posts Tagged: Philadelphia Property Owner Representation

Imvax Picked the Iconic Curtis Building for its New HQ in Philadelphia

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 »

$200M Office Project in Center City Gets Underway

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 buys more buildings at Philadelphia Navy Yard for $83M

  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 »

WeWork is closing one of its 5 Philly locations at the end of the month

WeWork, the coworking giant with locations across the globe and major hubs in New York and California, will be closing its 1430 Walnut Street location at the end of the month, tenants were told Monday. In an email to members that obtained, the company said it had been conducting an in-depth review of its… Read more »

Nerd Street Gamers takes space on North Broad Street in Center City 

Nerd Street Gamers has expanded in its hometown and leased 35,000 square feet at 401 N. Broad St. in Philadelphia, according to sources familiar with the matter. The deal is the latest move for the fast-growing, Philadelphia esports company. Nerd Street raised $10 million earlier this summer and is looking to raise a total of $35 million… Read more »

Brandywine sells 30% stake in Commerce Square for $115M

Brandywine Realty Trust has sold a 30% stake in One and Two Commerce Square for $115 million, raising money to invest back into the company’s future projects. Brandywine, a Philadelphia real estate investment trust, said it closed on the transaction with an undisclosed global institutional investor in a deal the company values as a $600… Read more »

Parent of Independence Blue Cross closes on $360M purchase of HQ

Independence Health Group, parent company to Independence Blue Cross, has closed on buying its Center City headquarters building for $360 million, or $450 a square foot. The Philadelphia Business Journal first reported last month that Independence had put the 800,000-square-foot building at 1901 Market St. under contract. Piedmont Office Realty Trust Inc. (NYSE:PDM) was the seller of… Read more »

West Philadelphia mixed-use portfolio sells for $15.4M 

A Brooklyn real estate company has picked up a three-building portfolio in the Parkside area of West Philadelphia for $15.37 million. Leser Group bought the properties from Rockland Capital, a Philadelphia real estate company that assembled and developed the buildings that have a mix of retail and office space. The portfolio totals 97,200 square feet…. Read more »

$100M development in University City lines up another tenant

The Barer Institute, a collaborative cancer drug development initiative started by Rafael Holdings, Inc., intends to lease space at the planned 3.0 University Place development in University City. The institute signed a non-binding letter of intent to occupy 2,500 square feet on the fifth floor of the building that will feature 10 other suites totaling… Read more »