Despite challenges in the office market, Brandywine Realty Trust CEO Jerry Sweeney believes his company is well positioned moving forward because of the high quality of its buildings and shifting portfolio. In-person tours of Brandywine (NYSE: BDN) properties were up 40% in the first quarter compared with the same timeframe in 2022 and up 27%… Read more »
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 »
Ten years after buying 1900 Market St. in Philadelphia for $34.8 million, Brandywine Realty Trust has put the 456,922-square-foot building up for sale. The building, which is fully leased, could potentially trade for an estimated $200 million. The 8-story building will test investor interest in Center City office buildings, an asset class that has lost… Read more »
Brandywine Realty Trust has closed on a $383 million joint venture with two investors to purchase Cira Square, an 863,000-square-foot building in the University City neighborhood of Philadelphia that is leased to the Internal Revenue Service through 2030. Aside from Brandywine, the investors were not disclosed in Brandywine’s first quarter results late Wednesday but sources… Read more »
