Thomas Properties Group Inc. has completed a $25 million, multiphased capital improvement project at its Commerce Square office complex in Center City.
The work is dramatic.
The upgrades at Commerce Square was intended to make the property stand out in a competitive office market and seize on trends influencing how office buildings are used today and who uses them: a younger, more female work force. It also seeks to capture the changes that have taken place over time at the far west end of Market Street in Center City where more residential activity has been added in the mix.
The courtyard experienced the biggest change and is where the landlord dedicated the bulk of its money. About $12 million was spent on the courtyard and the remainder spent on systems and maintenance upgrades. Some of the work included waterproofing over a parking structure. The majority of the work involved place making, or creating an inviting public space for office tenants and those living nearby to gather and hang out.
A fountain, which is the centerpiece of the courtyard, was reconstructed and new furniture, colorful umbrellas and landscaping was added and a huge “media wall,” or large television screen, dons a portion of a wall. It has a range of content streaming from it. It’s cool.
Some of the content that Thomas Properties puts up includes such programs as high-profile sporting events, say the U.S. Open at Merion or the French Open to artwork from a cadre of artists and other non profits. You could even watch shows such as Mad Men on the weekend while having a meal and glass of wine at one of the restaurants. The landlord can also put up special messaging such as welcoming a prospective tenant.
“They get a kick out of it,” said Morgan Murray, director of leasing at Thomas Realty Partners.
The entrance to the building also got attention. Large pylons create a striking entrance to the building and its courtyard and an area where tenants can have signage. The landlord also constructed an area fronting Market Street for additional tenant signage.
Some parts of interior also got a re-do with the most significant change in the lobby. Once dark and cavernous, white marble was installed on the walls, a color feature that pops was added as well as new lighting. The guards even got new uniforms. A new fitness center has become popular and already has 800 members.
Commarts/Stantec of Boulder, Colo., designed the renovations.
“We’re very pleased with the way it turned out,” said Joe McManus, senior vice president at Thomas Realty.
One Commerce Square was constructed in 1987 and Two Commerce Square was built in 1991 at 21st and Market streets in Philadelphia's Central Business District. The two, matching 41-story buildings total about 2 million square feet. Take a look at this photo gallery of some before and after shots of the work at Commerce Square.
Source: Philadelphia Business Journal
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