Posts Tagged: Philly Office Space

One South Broad turns to lab conversion to fill vacant Wells Fargo office space

One South Broad St., a 464,000-square-foot building, is the latest Philadelphia office property to enter the life sciences fray. Aion Partners of New York, which owns the 26-story building, is marketing 108,418 square feet over floors three through eight as space that can be converted into labs. The six contiguous floors were vacated last year… Read more »

Shorenstein Secures $223 Million Refinancing of Philadelphia Office High-Rise

Shorenstein Properties has tapped into the commercial mortgage-backed securities market to refinance its 1818 Market St. Class A office building in downtown Philadelphia, according to analysis of the loan being rolled into a new offering likely to come to market next week. Barclays Capital Real Estate provided a two-year, floating-rate, interest-only loan totaling $222.9 million, according to… Read more »

Brandywine Expects to Break Ground on $287M Schuylkill Yards Building in March

Brandywine Realty Trust has secured two partners — one an undisclosed global institutional investor — on the development of a $287 million project at Schuylkill Yards and is making progress on its lease negotiations with Dechert at Cira Centre. The Philadelphia real estate investment trust said Dechert, one of Philadelphia’s largest law firms, is in… Read more »

2000 Market Wraps Up $12M in Renovations

Nahla Capital has completed $12 million in interior and exterior renovations to 2000 Market St. and signed a handful of lease renewals at the Center City office building. “We have had good momentum even during the pandemic,” said P.J. Van Hoof, senior associate at Nahla Capital. “We had more smaller tenants that were expiring and with… Read more »

BakerHostetler Signs Deal to Move Philadelphia Office

BakerHostetler has signed a 16-year lease to relocate its Philadelphia offices from Cira Centre in University City to BNY Mellon Center at 1735 Market St. in the Central Business District. The Cleveland-based law firm leased 45,121 square feet, a reduction from the 80,000 square feet it had occupied at Cira Centre. BakerHostetler’s lease was scheduled… Read more »

Ensemble buys more buildings at Philadelphia Navy Yard for $83M

  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 is closing one of its 5 Philly locations at the end of the month

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 obtained, the company said it had been conducting an in-depth review of its… Read more »