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Office Space

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NEWS
June 25, 1992 | By Amy Westfeldt, INQUIRER CORRESPONDENT
Never mind the stop-and-go traffic on Route 130. Don't mention rush hour around the Medford Circle. Debbie Tornquist is certain her company, Tempel Steel, got a heck of a deal in moving from Bucks County to Burlington County. "We don't like the roads there. The roads are nice here," said the administrative assistant for the Chicago-based company, which moved to the Bromley Commons office park in Burlington Township last summer. "There's no traffic, no lights. " A relative lack of traffic congestion, competitive rents, newer roads and easier access to both Philadelphia and New York are being cited as reasons for a boom in office-space rentals in Burlington County.
REAL_ESTATE
September 18, 1988 | By Susan Warner, Inquirer Staff Writer
In Center City's competitive office market, four tenants are seeking enough space that a commitment by one could spark a new spire on the skyline. In the last year, Towers, Perrin, Forster & Crosby, a management-consulting firm; FMC Corp., a manufacturer of machinery and chemicals; CoreStates Financial Corp., the parent of Philadelphia National Bank, and the Conrail freight railroad have announced that they are evaluating their space needs. The firms, with space needs ranging from more than 200,000 square feet to 1 million square feet, are being courted by developers whose proposed towers are on hold for want of a lead tenant.
REAL_ESTATE
April 27, 2015 | By Erin Arvedlund, Inquirer Staff Writer
In South Philadelphia's Newbold neighborhood, Anna Maria and Carmen Vona have renovated the historic Abbotts Alderney Dairies building at 1715-1719 McKean St. The couple own and operate a business in a rear building on the parcel, which takes up nearly the entire block. But they have renovated 10,000 square feet in the two-story front structure, facing McKean and Colorado Streets, into apartment and office space at a cost of about $400,000. The Vonas did most of the work themselves.
BUSINESS
June 16, 1986 | By Richard Burke, Inquirer Staff Writer
No vacancies? Well not exactly. But if the current trend continues in Philadelphia's suburbs, developers of office buildings and corporate parks may want to dust off their old No Vacancy signs. The suburban office market remains strong and vacancy rates are dropping despite the addition of nearly two million square feet of office space in the last six months, a new survey shows. The Valley Forge-Wayne area had the largest growth with the addition of 881,000 square feet of office space, while Bala Cynwyd boasted the lowest office-vacancy rate - 1.4 percent - of eight key suburban markets surveyed, according to Helmsley-Greenfield Inc., the Philadelphia real estate broker that conducted the study.
NEWS
August 7, 1990 | By Robert Zausner, Inquirer Harrisburg Bureau
The Senate announced yesterday that it would get into the office-renting business, apparently to circumvent a state Ethics Commission ruling that prohibited a legislator from renting space from himself. The commission ruled in October that Rep. Italo Cappabianca (D., Erie) could not pay himself $500 monthly from his state expense account for a House district office in a building he owns. The seven-member commission in June voted 4-3 against a request to reconsider the case, citing a state ethics law provision against legislators' using their position to obtain personal financial gain.
NEWS
June 19, 2007 | By Bob Fernandez, Inquirer Staff Writer
Three years ago, with office vacancies in the upper teens and rents plunging, some building owners predicted hard times if a new skyscraper came onto the downtown scene. One owner, David Campoli, contended in 2004, during the public debate over public subsidies for a proposed 57-story high-rise for Comcast Corp., that the "Center City market is very bad. . . . There are 184 full-floor vacancies. " From 2000 to 2004, the city lost about 33,000 jobs. But seemingly against the odds, Center City pulled a rubber-burning 180-degree turn.
NEWS
September 10, 1992 | By Sid Holmes, INQUIRER CORRESPONDENT
Easttown Township is considering buying an empty office building on Lancaster Avenue to use for offices, the public library and the police department. Township officials say they need more room, and the question of how to solve the space crunch dominated the agenda of Tuesday's Board of Supervisors meeting in Easttown Township. About 100 residents gathered in the auditorium of the former Berwyn Elementary School, the current home of the township's administrative offices. The township, entering into the last year of a 10-year lease agreement with the Tredyffrin/Easttown School District, is considering alternatives.
BUSINESS
December 4, 2011 | By Diane Mastrull, Inquirer Staff Writer
Zoe Selzer spent much of 2011 searching the city's building stock - from Northern Liberties to West Philadelphia - for a landlord willing to house what organizers believe is the region's first incubator exclusively for green businesses. What she heard was "no" in a variety of ways. That's because what she wanted along with about 5,000 square feet was to have that space at a drastically low rent or, preferably, no rent at all. "Nobody is ever going to do that for you," Selzer recalled was one response.
REAL_ESTATE
July 14, 2014 | By Erin Arvedlund, Inquirer Staff Writer
He's the man who built Campus Apartments in University City from a regional student-housing company into a national firm. David Adelman, who took over from the Campus Apartments founder, is branching out into office space in West Philadelphia - and he's looking to attract a key anchor tenant, such as Google, to lease his former factory space at 4101 Sansom St. The retrofitted printing-press shop here is known as the Graphic Arts Lithographers building...
NEWS
October 20, 1991 | By Vyola P. Willson, Special to The Inquirer
The vacancy rate for suburban office space dipped from 17.4 percent at the end of June to 16.6 percent at the end of September, according to a survey by a commercial real estate broker. In downtown Philadelphia, the vacancy rate was 13.8 percent at the end of September, up a 10th of a percent from the June rate, according to Robert W. Walters, executive vice president of CB Commercial Real Estate Group. The vacancy rate in the Exton-West Chester, King of Prussia and the Main Line dropped slightly, while the rate of vacancy increased slightly on the Upper Main Line.
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ARTICLES BY DATE
SPORTS
August 12, 2016 | By David Murphy, Daily News Columnist
A FOOTBALL TEAM is not a democracy, so the folks in the seats might not have a say. Still, by the end of Carson Wentz's Eagles debut on Thursday night, you had the sense that it was going to be awfully hard to get anybody in this town excited about a team quarterbacked by anybody else. Maybe that doesn't matter to the guy who actually makes those decisions. But coaches are made out of the same stuff as the rest of us, and you have to wonder how long Doug Pederson is going to be able to ignore the part of his mind that is joining in the chorus.
NEWS
August 8, 2016 | By Julia Terruso, Staff Writer
The party's over, the painted donkeys are headed home, and all that remains is an arena to put back together, some bookkeeping, and a few hundred thank-you notes to be written. The week after the Democratic National Convention, local organizers were still basking in kudos while closing down the pop-up organization they created to run the show. "You work so hard for something, you put your heart and soul into it, and you wonder how's it going to be received," said Kevin Washo, 35, executive director of the city's host committee.
BUSINESS
July 27, 2016 | By Jacob Adelman, Staff Writer
Liberty Property Trust is under agreement to sell much of its holdings in the Great Valley Corporate Center, the pioneering Chester County business park that transformed Malvern and made the developer into a major regional office landlord. The company is selling 26 Great Valley properties, accounting for more than a million square feet of office and light-industrial space, to Horsham-based Workspace Property Trust, Liberty announced Monday. The properties are part of a $969 million deal covering 7.6 million square feet across 108 suburban properties in Pennsylvania, Arizona, Florida, and Minnesota, Liberty said.
NEWS
July 2, 2016 | By Jacob Adelman, STAFF WRITER
Conshohocken-based Keystone Property Group has paid $114 million for the office building formerly known as Penn Mutual Tower at 510-530 Walnut St. near Independence Mall, the company said in a release. Keystone plans to convert the ground-floor and mezzanine office space of the 880,000-square-foot building - now called One Washington Square - into retail, it said. Keystone is also an owner of the nearby Curtis and Dow Buildings. The company purchased the One Washington Square property from Rubenstein Partners of Philadelphia, which acquired the building in late 2013.
BUSINESS
June 19, 2016 | By Jacob Adelman, STAFF WRITER
Average asking rents for Center City office space are projected to hit a record $28.80 per square foot during the three months ending June 30, according to real estate services firm CBRE. Much of the increase, up from $27.80 during the first three months of the year, comes from high rates being sought for remaining space in the FMC Tower, Ian Anderson, a CBRE research director in Philadelphia, said in a report Friday. But it still likely points to a lasting trend, he said. Rents for just the higher-end Class A office space in Center City, meanwhile, are projected to rise to $31.01 during the three months ending June 30, up from $29.86 in the previous period.
NEWS
May 15, 2016 | By Jacob Adelman, STAFF WRITER
Engineering firm Garg Consulting Services will lease 2,700 square feet of office space at 1000 Crawford Place in Mount Laurel, N.J., according to commercial real estate firm NAI Mertz, which brokered the transaction. The lease brings the 39,445 square-foot mid-rise building in the Horizon Corporate Center off Route 73 to full occupancy, NAI Mertz said in a release. jadelman@phillynews.com 215-854-2615 @jacobadelman
BUSINESS
May 14, 2016 | By Jacob Adelman, Staff Writer
FMC Corp. plans to move this weekend into its still-under-construction University City headquarters tower, among the most prominent of the recent building projects that are reshaping the city's skyline. The chemicals giant will be the first tenant in the glass tower that will bear its name near 30th Street Station, where it is to occupy 250,000 square feet over nine floors, communications chief Ken Gedaka said in an interview on Thursday. The move was timed to beat the expiration of its lease at its current home, the BNY Mellon Center tower at 1735 Market St., which it had occupied since 1991.
BUSINESS
April 29, 2016 | By Jacob Adelman, STAFF WRITER
Workspace Property Trust has leased over 150,000 square feet of office space during the first three months of 2016 in a 41-building Horsham business park that it acquired last year for $245.3 million, the real estate investment firm said Wednesday. Among the 13 tenants signing leases at the campus, purchased in December from Liberty Property Trust of Malvern, are fire-safety specialists Tyco SimplexGrinnell, which signed a 36,000-square-foot lease, WPT said in a release. Others include Finance of America Mortgage, which signed an agreement for 33,200 square feet, and New York Life Insurance Company, which is leasing 25,320 square feet.
NEWS
March 26, 2016 | By Jacob Adelman, STAFF WRITER
Environmental and geotechnical consulting firm GZA GeoEnvironmental Inc. has moved its Philadelphia-area operations from Fort Washington to bigger office space in Center City. The Norwood, Mass.-headquartered company is to lease about 4,600 square feet for its 10-member regional staff at the 1515 Market Street office building, the company said Friday on its website. The move allows for anticipated future growth and boosted headcount and provides "staff an opportunity to be part of the broader business community," GZA GeoEnvironmental said.
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