Younium, a software technology company headquartered in Sweden, has picked Philadelphia for the headquarters of its U.S. operations. The company’s software helps manage various aspects of subscription-based businesses like invoices and billing, financial reporting and data insights. Younium currently has some 50 employees located across the globe, and expects its Philadelphia office to have a… Read more »
The owners of one of Philadelphia’s most recognizable office complexes are looking for a second extension on a loan that has already been refinanced. A joint venture between New York’s Nightingale Properties and investment firm Wafra Capital Partners, which owns Centre Square at 1500 Market St., has asked to extend the maturity of a $368… Read more »
Chubb Ltd., the giant insurance company, is nearing a deal to move forward with a proposed 475,000-square-foot building at 2000 Arch St. that would eventually serve as its new Philadelphia offices, according to several sources familiar with the plan. The company had been evaluating over the last four years or so whether to have a… Read more »
A joint venture that brings the popular Immersive Van Gogh exhibit to cities across the country has signed a lease on 32,000 square feet in a Center City office building to provide a rotation of similar programming on permanent basis. Lighthouse Immersive and Impact Museums signed a long-term lease on the space at the Washington… 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 »
One of the nation’s largest banks is opening an innovation center in Center City that will house 100 new technology jobs. Capital One said it has leased space at 1735 Market St., where it plans to hire software engineers, product managers and technical roles to work on “challenging technology problems.” Jay Michelini, head of technology… Read more »
Pharmacy chain Rite Aid has moved to accommodate a more remote workforce, downsizing and relocating its headquarters to Philadelphia and selling its former one in central Pennsylvania. The retailer this week unveiled its new base on the second floor of 1200 Intrepid Ave. in Philadelphia’s Navy Yard district. It’s a 23,000-square-foot space that Rite Aid in a… Read more »
Financial and information services firm GLG is opening its third major U.S. office in Philadelphia at the Bourse building. The company is investing $2.5 million in the office project, and also received $250,000 from the state in the form of a Pennsylvania First grant. GLG has opened a temporary office space in the Bourse already,… Read more »
More than two years into the pandemic, thousands of employees continue to work remotely in the suburbs rather than commute into the city, according to a new report by Pew Charitable Trusts. The permanent trend toward remote work is contributing to Philadelphia’s tepid economic rebound from the COVID-19 pandemic and a decline in the total… Read more »
BET Investments Inc. has closed on the purchase of Prudential Insurance Co.’s 90-acre campus, paying $30.25 million for the property that is visible from the Pennsylvania Turnpike. The property at 2101 Welsh Road in Upper Dublin has three interconnected office buildings that total 861,000 square feet and surface parking lots that have 2,175 spaces. Prudential… Read more »
