Developers Dean Adler and PMC Property Group are seeking to terminate their $70 million agreement to acquire Philadelphia’s Centre Square. Developers Dean Adler and PMC Property Group are seeking to terminate their agreement to acquire Centre Square in Philadelphia. The developers previously agreed to purchase the landmark office complex for $70 million. If approved, ending… Read more »
PECO has occupied a 67,000-square-foot Malvern office building purchased for $6 million as the energy company expands its real estate footprint. PECO has taken occupancy of a 67,000-square-foot office building in Malvern. The move supports the energy company’s broader strategy to expand its office footprint. The property is located at 100 Chesterfield Parkway and spans… Read more »
BNY is continuing to reshape its Philadelphia-area office footprint. This time, the financial institution plans to consolidate several suburban locations into a new regional hub. The company signed a lease for more than 41,650 square feet at 965 Chesterbrook Boulevard in Wayne. The new office is expected to open next year. BNY has not identified… Read more »
Brandywine Realty Trust has completed the sale of Six Tower Bridge in Conshohocken. The transaction reflects the company’s ongoing effort to reposition its office portfolio. The 116,000-square-foot office building is located at 181 Washington Street. Legend Realty and the Adjmi family acquired the property for $21 million. The sale price equates to approximately $181 per… Read more »
New York Life Insurance Co. is relocating a business unit within Center City Philadelphia. As part of the move, the company will reduce its office footprint by nearly half. The insurer signed a long-term lease for approximately 40,000 square feet at 1717 Arch Street. Specifically, New York Life will occupy the 44th and 45th floors… Read more »
New York Life Insurance Co. is reducing its office footprint in Center City. As part of the move, the company will relocate a business unit from Two Liberty Place to Three Logan Square. The insurer signed a lease for approximately 40,000 square feet at 1717 Arch Street. Specifically, the company will occupy space on the… Read more »
Vanguard is reducing its office footprint in Malvern once again. This time, the investment management giant plans to vacate 87,600 square feet at 45 Liberty Boulevard when its lease expires at the end of June. The decision represents a significant occupancy change for the property. Currently, the 137,000-square-foot building is fully leased. However, occupancy will… Read more »
nvestor interest in healthcare real estate continues across the Philadelphia suburbs. Most recently, a fully leased office building in Chalfont sold for $12 million. Phoenix-based Pruthi Properties acquired the 52,622-square-foot property at 1600 Manor Drive from an affiliate of Equus Capital Partners. Located within New Britain Corporate Center, the building combines medical and professional office… Read more »
The future of Philadelphia’s iconic Centre Square complex has become increasingly uncertain as new buyers enter the race for the distressed property. Just months after a potential deal appeared close, additional bidders have surfaced for the massive Center City office complex. Their involvement now threatens to derail the proposed acquisition by local developers Dean Adler… Read more »
Philadelphia’s office market welcomed a major milestone this week as Chubb officially opened its new headquarters at 2000 Arch Street. The 438,000-square-foot tower reflects the company’s long-term commitment to both the city and in-person collaboration. By early afternoon Monday, the building’s cafeteria buzzed with activity. Employees gathered for lunch, held conversations with coworkers, and searched… Read more »
