June 25, 1992 |
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.
September 18, 1988 |
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.
April 27, 2015 |
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.
June 16, 1986 |
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.
August 7, 1990 |
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.
June 19, 2007 |
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.
September 10, 1992 |
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.
December 4, 2011 |
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.
October 20, 1991 |
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.
June 25, 1987 |
The parent company for Philadelphia's Graduate Hospital and New Jersey's Zurbrugg Memorial today agreed to purchase a Center City church slated for conversion to an office building for $4.25 million five years into their 10 year lease. The $4.25 million figure is what Edward S. Brown, a Philadelphia developer, says it will cost his company, The Edward S. Brown Group, to renovate The Church of New Jerusalem, 22nd and Chestnut streets, into office space by taking advantages of all federal tax credits for the renovation of historical buildings.