Wednesday, April 23, 2014
Inquirer Daily News

Who will fill vacant Glaxo towers?

FMC, Pepper, Beneficial, PHMC, or no one?

Who will fill vacant Glaxo towers?

GlaxoSmithKline had offices in One Franklin Plaza (left) and Three Franklin Plaza. (Michael S Wirtz / Staff Photographer)
GlaxoSmithKline had offices in One Franklin Plaza (left) and Three Franklin Plaza. (Michael S Wirtz / Staff Photographer)

As my colleague Michael Armstrong writes today, one of Center City's big landlords, Mass.-based CommonWealth Real Estate Investment Trust, which owns Philly's BNY Mellon, PNC, Centre Square (ex-CoreStates and Comcast) and One Franklin Plaza (ex-Glaxo) towers, says it's talking to a potential tenant for a part of the vacant Glaxo complex (the whole place used to cover 800,000 sq ft, including 600,000 sq ft of CommonWealth property).

Read Mike's story, which also focuses on a CommonWealth shareholder revolt,here.

Who's hunting for a big chunk of Philly office space these days? As I noted Feb. 4, citing Jeff Seligsohn-Peter Soens' SSH Real Estate's annual report: 

-  Frugal chemical-maker FMC Corp. is looking for a bloc of around 200,000 sq ft to consolidate its several headquarters and support offices in Center City.

-- Law firm Pepper Hamilton also needs around 200,000.

-- Beneficial Bank wants a new 100,000 sq ft headquarters, though boss Gerry Cuddy gives signs of closing on 1818 Market.

-- The nonprofit Pennsylvania Health Management Corp. is also looking for around 100,000 sq ft.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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