Posts Tagged: Brandywine

Brandywine Plotting for Next Steps in Schuykill Yards

Brandywine CEO Jerry Sweeney 'reading economic tea leaves,' won't build next Schuylkill Yards tower on spec

With the first two ground-up buildings at Schuylkill Yards in their final stages of development, Brandywine Realty Trust is plotting its next steps for the third. Philadelphia-based Brandywine (NYSE: BDN) is relaunching marketing efforts for its planned 800,000-square-foot East Tower at 3001 John F. Kennedy Blvd., but it’s waiting to begin construction until the building… Read more »

Brandywine Realty Trust capitalizing on tenants’ flight to quality

Brandywine Realty Trust capitalizing on tenants' flight to quality

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 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 »

Brandywine Realty puts 1900 Market St. up for sale

Chubb Ltd. Offices for Philadelphia

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 joint venture closes on $383M deal for IRS-leased building in University City

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 »