Comcast takes more space in Center City

Comcast Corp. has grabbed roughly 81,000 square feet at Two Logan Square as the cable company continues to be bursting at the seams and in need of additional office space in Philadelphia.

In its latest move, the company leased a total of four floors at the Center City office building at 100 N. 18th St., confirmed John Demming, a company spokesman.

This isn’t the first time Comcast (NYSE:CMCSA) has expanded beyond its Comcast Center headquarters and into other buildings in the city. It occupies about 100,000 square feet in Centre Square and Three Logan Square.

According to Brandywine Realty Trust’s latest annual report, Comcast is one of its leading tenants and occupies 418,029 square feet of its office space. Brandywine owns Two Logan Square.

While the company dominates the cable industry, it continues to grow as a media and technology company.

It has been hiring engineers and software experts as part of its pursuit to develop leading technologies and applications. For example, this week it bought OneTwoSee, a local sports information technology company. OneTwoSee and Comcast have partnered for the last five years as they’ve worked to provide more data for Xfinity X1 customers and sports fans.

The space it has taken in other buildings is temporary.

The Comcast Innovation & Technology Center is under construction and expected to be completed by early 2018. Liberty Property Trust (NYSE: LPT) is developing the new innovation tower, which will stand 60 stories and have a total of 1.7 million square feet of space. Of that, 1.33 million square feet will be office space and Comcast has committed to all of it.

Source: Philadelphia Business Journal