Irish water infrastructure engineering firm Glanua has selected Radnor for its first U.S. headquarters. The fast-growing company plans to hire 200 employees as it expands into the American market. Glanua opened a 1,700-square-foot office at Radnor Financial Center, owned by Brandywine Realty Trust. The space can initially accommodate between 10 and 15 employees. However, the… Read more »
Hanwha Philly Shipyard has expanded its Navy Yard footprint with a new 64,380-square-foot office lease. The shipbuilder will occupy three floors at 201 Rouse Boulevard, an 80,000-square-foot office building. Overall, Hanwha will occupy more than 80% of the property. The building sits approximately 1.3 miles from Hanwha’s 115-acre shipyard along the Navy Yard waterfront. Notably,… Read more »
The Pennsylvania Horticultural Society is relocating its longtime Philadelphia headquarters with a new lease at 1900 Market Street. PHS signed a 16-year lease for approximately 18,000 square feet at the former Philadelphia Stock Exchange building. The nonprofit will occupy space on the ground floor and within a lower-level atrium. The move takes PHS just two… Read more »
The owner of Spring Mill Campus is exploring a sale or recapitalization after significantly improving occupancy at the Conshohocken office complex. Alliance HP acquired the 508,500-square-foot property for $81 million in 2019. At the time, Spring Mill Campus was approximately 65% occupied. Since then, occupancy has increased to 86%. That improvement represents a notable turnaround… Read more »
Philadelphia International Airport has acquired a large neighboring property that could support future expansion and development. The airport purchased the 31.6-acre site at 8800 Tinicum Boulevard for $42 million. The property includes a vacant 441,000-square-foot office building and a large surface parking lot. The transaction equates to approximately $95 per square foot. Notably, the site… Read more »
Philadelphia architecture firm Designblendz is doubling its office footprint with a new 10,000-square-foot lease in Market East. The firm signed a seven-year lease at the Steele Building at 15-21 South 11th Street. Designblendz will occupy the top two floors of the five-story building. Additionally, the firm plans to relocate to the property in December. Currently,… Read more »
Burlington Stores plans to relocate its corporate headquarters from South Jersey to Philadelphia’s University City neighborhood. The off-price retailer is purchasing the 441,000-square-foot office building at 3151 Market Street. Furthermore, Burlington plans to occupy the entire building as its new corporate headquarters. The relocation represents a $370 million investment by the company. Additionally, Burlington expects… Read more »
The owners of 2000 Market Street have secured $50 million in financing to support additional investment in the Center City office building. The financing will fund tenant improvements and property upgrades at the 665,000-square-foot building. Moreover, the investment follows a period of growing leasing activity. CSB Holdings and Tide Realty Capital acquired 2000 Market Street… Read more »
JPMorgan Chase & Co. is preparing to take a full office floor at 2400 Market Street in Philadelphia. The banking giant is expected to sublease the building’s entire 63,000-square-foot fifth floor from Aramark. Aramark plans to vacate the fifth floor while maintaining its remaining space at the property. For JPMorgan, the move could support a… Read more »
Vanguard Group has sold a 323,000-square-foot Wayne office complex for $17 million while maintaining its operations at the property. Malvern-based E. Kahn Development acquired the campus at 1041 West Valley Road. The transaction equates to approximately $53 per square foot. However, Vanguard plans to lease back the entire property through at least 2028. Employees currently… Read more »
