Axlata Coating Systems Ltd. plans to close its Center City global headquarters office and move out of the 36,000 square feet it has occupied at Two Commerce Square for the last seven years. Employees working out of Philadelphia will relocate to either its 55,000-square-foot North American headquarters off Applied Bank Way in Glen Mills or… Read more »
The properties being marketed are: 656-676 E. Swedesford Road, a two-building complex that totals 147,000 square feet; and the Valley Forge Office Center, which includes 480 E. Swedesford Road, a 49,000-square-foot building, and 500 E. Swedesford Road, a 61,000-square-foot property. No prices have been set for the buildings. The complex at 656-676 E. Swedesford was… Read more »
As many as 85% of tenants in one office landlord’s buildings across the country are still working from home, and its executives say large employers are realizing they may have more of a struggle on their hands in getting everyone back than first anticipated. Brandywine Realty Trust executives are finding that even as some tenant… Read more »
Imvax expected to host an event in April or May to unveil its new headquarters at The Curtis in the Old City section of Philadelphia, but the ongoing pandemic scuttled those plans. “Covid-19 clearly got in the way,” said John Furey, the former Spark Therapeutics executive who was hired as CEO of Imvax last year. “Once… Read more »
Rubenstein Partners is moving forward with a $50 million repositioning of Chesterbrook, which is what the real estate company is now calling and branding the Tredyffrin business park it bought in the summer of 2019. The Philadelphia real estate company has five of the 14 buildings totaling 1.1 million square feet it bought under some… Read more »
It’s with little frequency Philadelphia experiences a ground breaking for a new office building let alone one in the middle of global pandemic but, in a city of firsts, that is what took place Monday morning along the western edge of the Central Business District. Construction began for 2222 Market St., a $200 million office… Read more »
Ensemble Real Estate Investments has bulked up on its Philadelphia Navy Yard holdings and paid $83 million for a three-building portfolio. The purchase of the properties means Ensemble has solidified its presence at the Navy Yard, establishing a critical mass at the site and stepping in where Liberty Property Trust left off. The real… Read more »
WeWork, the coworking giant with locations across the globe and major hubs in New York and California, will be closing its 1430 Walnut Street location at the end of the month, tenants were told Monday. In an email to members that Technical.ly obtained, the company said it had been conducting an in-depth review of its… Read more »
Nerd Street Gamers has expanded in its hometown and leased 35,000 square feet at 401 N. Broad St. in Philadelphia, according to sources familiar with the matter. The deal is the latest move for the fast-growing, Philadelphia esports company. Nerd Street raised $10 million earlier this summer and is looking to raise a total of $35 million… Read more »
Brandywine Realty Trust has sold a 30% stake in One and Two Commerce Square for $115 million, raising money to invest back into the company’s future projects. Brandywine, a Philadelphia real estate investment trust, said it closed on the transaction with an undisclosed global institutional investor in a deal the company values as a $600… Read more »
