Liberty Property Trust is set to break ground Tuesday on
a 94,000-square-foot office building at the Navy Yard designed by the architect
behind Two World Trade Center, a plan that is among the developer's boldest
bets yet on the sprawling business center.
The building at 1200 Intrepid Ave., fronting a five-acre
park by the designer of the High Line in New York, would contain the most
office space that Liberty has started at the South Philadelphia complex without
a tenant in place.
The decision to begin work speculatively on the $35
million building, designed by Bjarke Ingels Group, is a signal of Liberty's
confidence in the Navy Yard, where the company's 1.3 million square feet of
office and light-industrial space are nearly 100 percent leased to companies
from GlaxoSmithKline to Tasty Baking Co.