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NEWS
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.
BUSINESS
April 10, 1986 | By Gregory R. Byrnes, Inquirer Staff Writer
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.
NEWS
September 11, 1987 | By Roger Cohn, Inquirer Staff Writer
Rouse & Associates has completed the purchase of the last parcel of its $600 million Liberty Place development and has withdrawn its request that the city acquire the final holdout properties through condemnation.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.
NEWS
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.
NEWS
December 22, 1988 | By Kristin E. Holmes, Special to The Inquirer
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.
NEWS
October 29, 1987 | By Jeff Brown, Inquirer Staff Writer
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.
BUSINESS
February 26, 2014 | By Chris Hepp, Inquirer Staff Writer
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.
NEWS
August 25, 1993 | By Susan Warner, INQUIRER STAFF WRITER
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.
NEWS
September 11, 1986 | By Roger Cohn, Inquirer Staff Writer
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.
NEWS
May 17, 2001 | By Henry J. Holcomb INQUIRER STAFF WRITER
With Mayor Street looking on yesterday, Willard G. Rouse 3d unveiled pictures of the 50-story skyscraper he plans to build in Center City next year. It would rise 725 feet, be the color of the Philadelphia Museum of Art, and, said Robert A.M. Stern, the famed architect, "cast a fantastic glow in the late-afternoon sun" over a new half-acre public plaza on John F. Kennedy Boulevard. Before the City Hall ceremony, Rouse told the annual shareholders' meeting of his company, Liberty Property Trust, that the new tower would "be as rewarding financially as anything we have built in the suburbs.
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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
February 18, 2016 | By Jacob Adelman, Staff Writer
PMC Property Group plans to redevelop the former Marketplace Design Center building at 2400 Market St. into a block-wide 22-story office and residential tower, the latest sign that Philadelphia's most aggressive development is shifting west. The company, with real estate investment firm Lubert-Adler, is proposing 450,000 square feet of offices and 350 apartments in a building that uses the former interior design showroom center as its base, PMC executive vice president Jonathan Stavin said Tuesday.
NEWS
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.
BUSINESS
February 26, 2014 | By Chris Hepp, Inquirer Staff Writer
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.
BUSINESS
February 8, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
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.
NEWS
May 21, 2010 | By Peter Mucha, Inquirer Staff Writer
The discovery of a white powder in the wrong place has prompted a second emergency response in two days in Center City. Today, the 18-story Municipal Services Building was evacuated after a powder spilled out of an envelope about 9 a.m., officials said. The evacuation was later limited to the concourse of the tower at 1401 JFK Blvd. and the all-clear was sounded at 10:20 a.m. after it was determined the powder was harmless. Deputy Fire Commissioner Ernest Hargett said the beige powder spilled out of an envelope in a room where workers open water-bill payments.
NEWS
March 28, 2008
On the American Commerce Center design From Inga Saffron's blog, "Skyline Online," http://go.philly.com/skyline While it's a long shot of a project, the proposed 1,500-foot American Commerce Center at 18th and Arch Streets signals that Philadelphia is entering the age of super-tall towers. The project is being shopped around by Joseph Grasso and Garrett Miller's Walnut Street Capital, which spent $30 million on the site. Their ambitions for American Commerce Center are very grand, considering.
NEWS
January 12, 2008 | By Diane Mastrull INQUIRER STAFF WRITER
The developer chosen to revive long-suffering Ardmore is a Lower Merion Township resident with a dramatic, $300 million proposal featuring a six-story office tower and boutique hotel straddling the train tracks that divide the low-rise business district. By spanning the rails, Edward B. Lipkin aims to create a pedestrian-friendly connection between Ardmore's successful north side - site of the thriving retail complex Suburban Square - and the south side, where Lancaster Avenue businesses are desperate for an economic revival.
NEWS
December 17, 2004 | By Angela Couloumbis INQUIRER STAFF WRITER
At its last meeting of 2004 yesterday, City Council approved spending $30 million in city funds to expand the Central Library of the Free Library of Philadelphia, despite ongoing concerns over how to best pay for the project. Also at its session yesterday - one of the busiest of the year - Council passed legislation awarding $30 million in state grants to make public improvements at the proposed Center City office tower where Comcast Corp. would be the major tenant. Council also approved a bill scaling back hours of operation for retail stores on predominantly residential blocks as well as legislation prohibiting signs and posters from being placed on public property.
BUSINESS
June 4, 2004 | By Henry J. Holcomb INQUIRER STAFF WRITER
Some protesters march to City Hall. Owners of Philadelphia's skyscrapers are trying something different: flicking off the lights. To protest proposed tax breaks for a new 60-story Comcast Corp. office tower, the owners doused some lights last night that have turned red, white and blue on July 4 and green to celebrate Eagles football successes. Statues and art also were to go dark. "All lighting that's not essential to safety will be turned off," said Dave Campoli, president of the Center City Owners Association, which has 27.3 million square feet of office space.
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