Liberty Property
Trust and Synterra Partners will move forward with a new headquarters for Franklin
Square Partners at the Navy Yard Corporate Center in Philadelphia.
It is scheduled
to officially break ground on Monday.
The four-story,
80,050-square-foot building will be constructed at 201 Rouse Blvd. It will sit
near the newly constructed Courtyard by Marriott. DIGSAU designed the building
and Turner Construction is the general contractor.
The new
headquarters will have views of a new park and Philadelphia’s skyline and will
include a café-style restaurant, a multi-use exercise facility, conference
facilities and floors full of natural light. The space is designed for team
collaboration.
Franklin Square
designs and manages alternative investment funds that allow mainstream
investors to access asset classes, like investments in private companies, that
were previously only available to institutional investors. Company revenues
grew from $1.5 million in 2009 to just under $27 million last year, or 1,698
percent. It was formed in 2007 with 15 employees and now has 150 people working
for it.
The company is moving from Cira Centre. Here’s a
story about why it selected the Navy Yard for its new headquarters.
This is the 12th
development initiated by Liberty at the Navy Yard in nine years and the second
project the company set out to construct on speculation but ended up getting
fully leased. Iroko Pharmaceuticals was the other project that ended up being a
build to suit.
The building is
expected to be completed in 2015.
Source: Philadelphia
Business Journal
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