Posts Categorized: Philadelphia office space

Chubb Closes in on Deal for New 475,000 SF Center City Office Building

Chubb Ltd. Offices for Philadelphia

Chubb Ltd., the giant insurance company, is nearing a deal to move forward with a proposed 475,000-square-foot building at 2000 Arch St. that would eventually serve as its new Philadelphia offices, according to several sources familiar with the plan. The company had been evaluating over the last four years or so whether to have a… Read more »

Brandywine Realty Trust brings on JV partner to develop $307M building at 3151 Market

Chubb Ltd. Offices for Philadelphia

Brandywine Realty Trust has arranged another joint venture with an undisclosed global institutional investor to proceed with the development of 3151 Market St., a proposed $307 million building in the University City neighborhood of Philadelphia that will cater to life sciences tenants.  Brandywine (NYSE: BDN) is also exploring ways to expand its B.Labs incubator in… Read more »

Rite Aid Downsizes Headquarters in Relocation to Philadelphia

Rite Aid

Pharmacy chain Rite Aid has moved to accommodate a more remote workforce, downsizing and relocating its headquarters to Philadelphia and selling its former one in central Pennsylvania. The retailer this week unveiled its new base on the second floor of 1200 Intrepid Ave. in Philadelphia’s Navy Yard district. It’s a 23,000-square-foot space that Rite Aid in a… Read more »

WCRE Completes Office Lease in Philadelphia

Two Penn Center, Philadelphia, PA

WCRE is proud to have exclusively represented Sadek & Cooper, in the leasing of 3,468 square feet of office space located at Two Penn Center, 1500 JFK Blvd., Philadelphia, PA from Crown Two Penn Center Associates, LLP an entity controlled by ASI Management. Sadek & Cooper is a multi-disciplinary law firm specializing in both Family Law and Bankruptcy. Sadek & Cooper offers an array… Read more »

Most Philly workers are still remote as city works toward pandemic recovery

Center City Return to Work

More than two years into the pandemic, thousands of employees continue to work remotely in the suburbs rather than commute into the city, according to a new report by Pew Charitable Trusts. The permanent trend toward remote work is contributing to Philadelphia’s tepid economic rebound from the COVID-19 pandemic and a decline in the total… Read more »

BET Investments pays $30M for Prudential Insurance Co. property in Upper Dublin

BET Investments Inc. has closed on the purchase of Prudential Insurance Co.’s 90-acre campus, paying $30.25 million for the property that is visible from the Pennsylvania Turnpike.  The property at 2101 Welsh Road in Upper Dublin has three interconnected office buildings that total 861,000 square feet and surface parking lots that have 2,175 spaces. Prudential… Read more »

After seven years, South Philadelphia’s Bok building is 98% leased

Philadelphia

Seven years ago this July, Scout Ltd. closed on buying the 8-story, 338,000-square-foot Edward W. Bok Vocational School at 1901 S. 9th St. in South Philadelphia.  The hulking building was vacant at the time and Lindsey Scannapieco, Scout’s managing partner, had ambitions to convert the former school, which she described in a recent interview as a “giant castle,”… Read more »