Posts Tagged: Navy Yard

Former GSK Building Fails to Sell

Former GSK Building Fails to Sell

The former GlaxoSmithKline office building at the Navy Yard failed to sell at a sheriff’s sale on Tuesday, adding another layer to its ongoing foreclosure saga. The 207,779-square-foot property at 5 Crescent Drive was put up for public auction on the Bid4Assets platform to satisfy a foreclosure judgment against owner Korea Investment Management Co. Ltd…. Read more »

Penn State Approves Sale of Navy Yard Buildings

Penn State approves $18.5M sale of Navy Yard buildings to IBEW Local 98

Penn State University’s board of trustees on Friday unanimously approved the sale of two Philadelphia Navy Yard buildings to the International Brotherhood of Electrical Workers Local 98 and the union’s apprenticeship arm for a combined $18.5 million. The buildings total 65,057 square feet. A 38,348-square-foot building at 4960 S. 12th St. was approved to sell… Read more »

Penn State Puts Two Philly Navy Yard Buildings For Sale

Philly Navy Yard Buildings For Sale

Penn State University has listed two Philadelphia Navy Yard buildings totaling 65,057 square feet for sale as the school relocates remaining offices at the locations elsewhere. The buildings had been used for academic programming, research, startup incubator space and events. Those uses have already moved out while some administrative offices remain but will also eventually… Read more »

Ensemble Investments Purchases Two Wayne Office Buildings

Ensemble Buys Wayne Offices

Ensemble Investments LLC is expanding its local reach outside of the Philadelphia Navy Yard, buying two top-tier office buildings in Wayne totaling 204,000 square feet.  The Long Beach, California, real estate firm purchased 650 and 680 E. Swedesford Road from Prologis Inc. The latter picked up the buildings in its $13 billion acquisition of Liberty Property… Read more »

Exclusive: GSK moving out of Philadelphia Navy Yard to smaller space at FMC Tower

Chubb Ltd. Offices for Philadelphia

GlaxoSmithKline is relocating corporate operations now based at the Philadelphia Navy Yard into FMC Tower at Cira Centre South in University City, joining the University of Pennsylvania and Spark Therapeutics in the building and bringing it closer to one of the city’s burgeoning life sciences hubs.  The global pharmaceutical company will be leasing 46,000 square… Read more »

Rite Aid Corp. to move HQ to Philadelphia Navy Yard

Rite Aid Corp. will relocate its headquarters to the Philadelphia Navy Yard, after having spent decades based in Camp Hill. The company leased 23,500 square feet at 1200 Intrepid Ave. and will open what it is calling an “enterprise headquarters” as part of an effort to redefine how it envisions its employees working as a… Read more »