April 24, 2013 |
THE PAST DECADE in Center City has brought a lot to celebrate: more housing and a bigger residential population; more families with young children; more highly educated workers than any other part of the city; and an arts and cultural scene second only to midtown Manhattan. Yet the number of office jobs has stagnated as the suburbs lure professional workers, according to the State of Center City Philadelphia 2013 report released Monday by the Center City District. "In some sense, the state of Center City has never been better, in terms of vibrancy of workforce, vibrancy of families, tourism here," said Paul Levy, the district's president and chief executive.
April 10, 2013 |
The 660-lawyer Drinker Biddle & Reath L.L.P. corporate law firm is expanding its New York branch and shrinking its Philadelphia headquarters space, but not its workforce here. The firm is doubling its Manhattan space at Silverstein Properties' 1177 Sixth Ave. tower to 31,000 square feet, even as it prepares to downsize its Philadelphia flagship office at Brandywine Property Trust's One Logan Square to 155,000 square feet in 2014. That will be down from 209,000 square feet, and to seven floors from the current 10. Drinker signed a 10-year lease at the New York tower, where listed rents run in the high $70s per square foot.
April 9, 2013 |
The 660-lawyer Drinker Biddle & Reath L.L.P. corporate law firm is expanding its New York branch and shrinking its Philadelphia headquarters space, but not its workforce here. The firm is doubling its Manhattan space at Silverstein Properties' 1177 Sixth Ave. tower to 31,000 square feet, even as it prepares to downsize its Philadelphia flagship office at Brandywine Property Trust's One Logan Center to 155,000 square feet in 2014. That will be down from 209,000 square feet, and to seven floors from 10 presently.
April 4, 2013 |
CHRISTOPHER Watson said he feels an obligation to write music about the violence and other life stories in his North Philadelphia neighborhood. Recently, a close friend suffered a broken jaw and a broken hand when a group of young men jumped him. "It makes me upset," said Watson, a 17-year-old rapper who uses the stage name "Bless. " "It's just not right. He could have died. . . . I write about stopping the violence. " Watson, a high school senior, is one of several young people set to perform Friday as part of the Uptown Theater's Youth Got Talent showcase.
February 28, 2013 |
One of Philadelphia's largest commercial landlords may be facing a battle over control. CommonWealth REIT , the Newton, Mass.-based owner of the 54-story BNY Mellon Center and 24-story One Franklin Plaza, had released its 2012 financial results Monday and disclosed plans to raise $450 million by issuing more shares. On Tuesday, two of the company's largest shareholders blasted that plan in a regulatory filing and urged CommonWealth to change its management structure, buy back stock, and deleverage its balance sheet.
February 12, 2013
B ILL DECKER, 40, of Media, is president of the Hub, which he co-founded in 2004 to provide specialized meeting space and technology/business-support services. The Hub Commerce Square, a 23,000-square-foot meeting-and-event space at 20th and Market streets, opened last May. Already open were the Hub CityView, at 30 S. 17th St., and the Hub Cira Centre, across from the 30th Street station. Q: How did you come up with the idea for the business? A: We bet that companies would use less office space in the future.
February 7, 2013 |
On a day when Michael Dell felt confident enough to announce a $24.4 billion leveraged buyout of the PC maker he founded came word of two less successful outcomes locally. The maker of the Zicam line of cold remedies said it withdrew an offer made in October to acquire Doylestown-based ProPhase Labs Inc. , the maker of Cold-Eeze lozenges. In a filing with the SEC last fall, Matrixx Laboratories Inc. disclosed that it has been trying to acquire ProPhase since May. Matrixx offered to acquire ProPhase for $1.40 per share in September, but was rebuffed.
January 26, 2013 |
The nonprofit Camden Children's Garden has two months to vacate most of its state-owned property before the land is transferred to the Adventure Aquarium next door. In a letter sent last week, the New Jersey Department of Treasury ordered Children's Garden director Michael Devlin to remove all property - including the facility's amusement rides, gazebo, and giant dinosaur - by March 31. The garden has the option to sell its items to Herschend Family Entertainment, the private owner of the aquarium as well as amusement parks around the country.
January 25, 2013 |
IT'S HARD TO FORGET that Ross Berkowitz's new office in Center City used to be part of the 12th Street Gym. Move-in boxes brimming with office supplies pile where fitness instructors recently demanded more sweat from wheezing aerobicizers. The clunk of a dropped weight occasionally interrupts the quiet, a reminder that the gym still thrives beyond Berkowitz's walls. But in his mind's eye, Berkowitz sees and hears only young professionals clattering away on laptops, the hubbub of entrepreneurs cooking up brilliant business plans.