Key Takeaways
- • Brandywine Realty Trust has commenced demolition on a 100,000-square-foot office redevelopment project at 650 Park Avenue in King of Prussia, PA, with delivery targeted for Q4 2020.
- • The four-story building will feature open floor plates and customizable layouts designed to accommodate single or multi-tenant occupancy, with amenities including a fourth-floor terrace and flexible communal work environments.
- • King of Prussia has emerged as a regional economic hub with four new corporate headquarters totaling 265,000 square feet added in the prior year, and 3,000 multifamily units delivered between 2016–2018, supporting strong demand for quality office space.
- • Brandywine retained Coscia Moos Architecture, a Philadelphia-based firm, for the design; the project builds on the company's recent successful developments including the ground-up delivery of 933 1st Avenue for GeoBlue and the $29.7 million redevelopment of 500 N. Gulph for CSL Behring.
- • Project development costs were not disclosed by Brandywine Realty Trust.
Summary
Brandywine Realty Trust has initiated demolition activities on a 100,000-square-foot office redevelopment project at 650 Park Avenue in King of Prussia, Pennsylvania, with completion expected in the fourth quarter of 2020. The Philadelphia-based real estate investment trust is transforming the property into a four-story office building designed to serve single or multi-tenant users, featuring customizable floor layouts and open workspaces.
The architectural design and planning have been assigned to Coscia Moos Architecture, a Philadelphia-based firm specializing in workplace design. The building will incorporate contemporary amenity programming, including open-air communal spaces, flexible work environments, and a fourth-floor terrace configured for diverse activities ranging from wellness programming to corporate events and client entertainment.
Jerry Sweeney, president and CEO of Brandywine Realty Trust, emphasized the strategic positioning of the project within a strong regional market. "King of Prussia is among the most successful regional economic hubs in the nation. 650 Park Avenue boasts a premier location in the heart of King of Prussia, and to attract leading businesses and talent, we elected to reinvent the property to deliver a highly desirable asset that will rival the quality and appeal found in urban workplaces." The company cited recent market activity supporting demand: four new corporate headquarters opened in King of Prussia in the prior year, representing 265,000 square feet of office space, while the submarket absorbed 3,000 multifamily units between 2016 and 2018.
This development follows Brandywine's completion of two recent regional projects: the ground-up development of 933 1st Avenue for single-tenant occupant GeoBlue, and the $29.7 million redevelopment of 500 N. Gulph, which now houses CSL Behring. Brandywine did not disclose development costs for the 650 Park Avenue project.
The architectural design and planning have been assigned to Coscia Moos Architecture, a Philadelphia-based firm specializing in workplace design. The building will incorporate contemporary amenity programming, including open-air communal spaces, flexible work environments, and a fourth-floor terrace configured for diverse activities ranging from wellness programming to corporate events and client entertainment.
Jerry Sweeney, president and CEO of Brandywine Realty Trust, emphasized the strategic positioning of the project within a strong regional market. "King of Prussia is among the most successful regional economic hubs in the nation. 650 Park Avenue boasts a premier location in the heart of King of Prussia, and to attract leading businesses and talent, we elected to reinvent the property to deliver a highly desirable asset that will rival the quality and appeal found in urban workplaces." The company cited recent market activity supporting demand: four new corporate headquarters opened in King of Prussia in the prior year, representing 265,000 square feet of office space, while the submarket absorbed 3,000 multifamily units between 2016 and 2018.
This development follows Brandywine's completion of two recent regional projects: the ground-up development of 933 1st Avenue for single-tenant occupant GeoBlue, and the $29.7 million redevelopment of 500 N. Gulph, which now houses CSL Behring. Brandywine did not disclose development costs for the 650 Park Avenue project.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.