WuXi AppTec Inc. took 45,000 square feet of this
75,000-square-foot building that Liberty broke ground on last April.
WuXi AppTec Inc. is expanding into a third building at
the Philadelphia Navy Yard and will occupy a 145,000-square-foot structure that
Liberty Property Trust is scheduled to break ground tomorrow.
The building has a lot of significance for WuXi AppTec
and the Navy Yard. WuXi AppTec was Liberty's (NYSE: LPT) first tenant at the
Navy Yard in South Philadelphia. In 2003, the Malvern, Pa., real estate
investment trust construct a 130,000-square-foot building for the company.
WuXi AppTec and the Navy Yard have been growing ever
since. Just last April, Liberty broke ground on a 75,000-square-foot building
in which WuXi AppTec (NYSE:WX) took 45,000 square feet.
The new building at 4701 League Island Blvd. is expected
to be completed sometime next year. It will be the 13th building Liberty has
constructed at the Navy Yard, which will then have a total of 1.3 million
square feet of space that is fully occupied. GlaxoSmithKline, Iroko
Pharmaceuticals, Clinigen, Thomas Jefferson University Hospitals, Franklin
Square Partners and Rothman Institute are among the tenants that have leased
space at the Navy Yard.
Source: Philadelphia
Business Journal
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