It turns out people don’t decide where to live solely based on where they work, and that’s good news for Philadelphia’s coffers and the city’s small business recovery — at least for now. “The core of the downtown, while not fully restored because [we’re still] missing 45% of office workers… is coming back relatively strongly,”… Read more »
Alterra Property Group is nearing a deal to acquire 1701 Market St. with plans to convert the longtime Morgan Lewis & Bockius headquarters building into apartments, according to industry sources. The 305,170-square-foot property in the heart of the Central Business District has been up for sale as Morgan Lewis plans to vacate the entire space… Read more »
Alterra Property Group is nearing a deal to acquire 1701 Market St. with plans to convert the longtime Morgan Lewis & Bockius headquarters building into apartments, according to industry sources. The 305,170-square-foot property in the heart of the Central Business District has been up for sale as Morgan Lewis plans to vacate the entire space… Read more »
CBIZ Inc. has signed a 10-year lease for 50,850 square feet in West Conshohocken with plans to relocate more than 200 employees from Plymouth Meeting. The global accounting and financial services firm will become the largest tenant at Keystone Development & Investment’s 1K1 building at 1001 Conshohocken State Road, taking up the entire sixth floor… Read more »
Holland & Knight has signed a seven-year lease to relocate to One Liberty Place from its initial Philadelphia home at Cira Centre. The firm will occupy the 32nd and 33rd floors, which equal just over 48,000 square feet, when it makes the move next year. Tampa-based Holland & Knight, one of the largest U.S. law… Read more »
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 »
