January 9, 2016
New York-based Shorenstein Properties LLC has acquired the 32-story 1700 Market Street office tower in Center City, the company said in a release. Shorenstein closed Wednesday on its purchase of the 848,000-square-foot building from a partnership involving New York's Nightingale Group and investor David Werner. The price was not disclosed. Shorenstein said it plans to invest in improvements to the property, as it's been doing at the nearby Beneficial Bank Place building that it purchased last year.
April 10, 1986 |
The owners of the Oliver Tyrone Corp. yesterday said they would split the Pittsburgh development firm into four separate companies, one of which will be based in Philadelphia. Donald W. Pulver, one of the real estate firm's four principals, said he would head the Philadelphia company, to be called the Oliver Tyrone Pulver Corp. The other companies, including a construction firm, will be in Pittsburgh and Cleveland. "The formation of the four companies will enable each to better focus on specific geographical areas and will provide the entrepreneurial organizations which are desirable for this type of activity," said Pulver, who has headed Oliver Tyrone's Philadelphia office since the mid-1970s.
September 11, 1987 |
Rouse & Associates has completed the purchase of the last parcel of its $600 million Liberty Place development and has withdrawn its request that the city acquire the final holdout properties through condemnation. Michael Dean, attorney for the development company, said yesterday Rouse had reached a final agreement to acquire the three-story building at 41 S. 17th St. from Theodora Tsiouris. Dean would not disclose the purchase price for the building, which housed a printing shop and a maternity clothing store.
May 28, 2000
There may yet be a happy ending for one long-running urban nightmare: the lost, burnt-out hulk of the One Meridian Building. A 1991 blaze killed three firefighters and left Philadelphia with a ruined, 38-story office tower at its heart. One Meridian, you'll recall, was no old factory building hidden away in some industrial backwater. It was a top-end office tower smack across from City Hall. The baleful ruin sat for years as the owners and their insurer fought in court.
December 22, 1988 |
Not long ago, the image of West Conshohocken was the towering smokestacks of industry. It was a classic manufacturing town. Not too far in the future, that image will change. The new symbol? A high- rise office tower. The one-square-mile town that is affectionately known as "West Conshy" is being transformed. The completion of one more step in that transformation was celebrated Friday as developers, government officials, local businessmen and future office-tower tenants gathered for the grand opening party of One Tower Bridge, a 15-story, $42 million office building on Front Street, adjacent to the Matsonford Bridge.
October 29, 1987 |
Commercial development is usually pretty hard for the typical citizen to stop. And Martin Wahl says he probably won't even try. But that doesn't lessen the sting as he awaits the construction equipment that, one day in the next few months, will arrive across the street from his home to erect a 15-story office tower. Leaning against the tailgate of his blue pickup, the 61-year-old semi- retired kitchen installer reminisced recently about the old days in Cherry Hill. He has lived around there most of his life - for the last 30 years in a modest house on Third Avenue, just a block or so from Route 38, a minute's drive from the Cherry Hill Mall.
February 8, 2014 |
Liberty Property Trust plans to charge rents "that are high $30s [per square foot], kissing $40," to Comcast and any additional tenants for the company's planned second Center City office tower, Liberty boss Bill Hankowsky told investors during a conference call this week. That's higher than today's top asking rents for the priciest Philadelphia space. In Philadelphia's slow-grow office market, average leasing costs are little changed since the 1990s, and significantly lower than in New York, Boston or Washington.
February 26, 2014 |
How do you hide a 35-story building? That was the task given Stantec Architecture Inc. when commissioned to design a new residential tower on the site of the historic Lit Brothers store. The hope was that the $102 million proposed tower would hardly be visible from Market Street and certainly would not detract from the Renaissance Revival facade that remains of the Lit Brothers store. The Philadelphia Historic Commission will assess Stantec's efforts Tuesday when the plan for the proposed Mellon Independence Center Tower is reviewed by the commission's architectural committee.
August 25, 1993 |
Contractor Daniel Keating is studying a proposal to renovate the former One Meridian Plaza, the fire-ravaged skyscraper that has stood charred in the shadow of City Hall since 1991, for use as city office space. Keating confirmed yesterday that his company had been evaluating the site, but said his study was in the early stages. He said the city would not necessarily be a tenant - or the only tenant - in a new development on the site of the office tower, which burned in a spectacular blaze that killed three firefighters in February 1991.
September 11, 1986 |
Billy Penn gave way to Billy Rouse yesterday as Rouse & Associates' One Liberty Place office tower - now under construction on Market Street - became the tallest building in Philadelphia. Just before noon, crane operator Charles McCue lifted into place the first of a series of 25-foot-long steel columns that will frame the skyscraper's 44th floor. With the erection of that 10-ton hunk of steel, One Liberty Place rose above the top of the William Penn statue on City Hall tower, and a cherished Philadelphia tradition was broken.