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 »
Independence Health Group, parent company to Independence Blue Cross, has closed on buying its Center City headquarters building for $360 million, or $450 a square foot. The Philadelphia Business Journal first reported last month that Independence had put the 800,000-square-foot building at 1901 Market St. under contract. Piedmont Office Realty Trust Inc. (NYSE:PDM) was the seller of… Read more »
A Brooklyn real estate company has picked up a three-building portfolio in the Parkside area of West Philadelphia for $15.37 million. Leser Group bought the properties from Rockland Capital, a Philadelphia real estate company that assembled and developed the buildings that have a mix of retail and office space. The portfolio totals 97,200 square feet…. Read more »
The Barer Institute, a collaborative cancer drug development initiative started by Rafael Holdings, Inc., intends to lease space at the planned 3.0 University Place development in University City. The institute signed a non-binding letter of intent to occupy 2,500 square feet on the fifth floor of the building that will feature 10 other suites totaling… Read more »
The Barer Institute, a collaborative cancer drug development initiative started by Rafael Holdings, Inc., intends to lease space at the planned 3.0 University Place development in University City. The institute signed a non-binding letter of intent to occupy 2,500 square feet on the fifth floor of the building that will feature 10 other suites totaling… Read more »
Wolf Commercial Real Estate, the leading Philly commercial real estate brokerage firm that specializes in Philadelphia commercial real estate listings and services, is offering prime Philly office space to sublease across from City Hall in 2 Penn Center at 1500 John F. Kennedy Boulevard Philadelphia PA. The asking sublease price for this office space in… Read more »
