Tuesday, September 23, 2014
Inquirer Daily News

Drexel to add labs at Three Parkway

As colleges spread through vacant Center City towers

Drexel to add labs at Three Parkway

Drexel University has leased 186,000 square feet at Three Parkway (1601 Cherry, the ruddy ExcelleRx and ex-Reliance Insurance/Pennwalt high-rise headquarters) for its Nursing and Medicine schools.

As part of the move, academic and admin offices of Drexel's College of Nursing and Health Professions will move from the Bellet building, 1501 Race St., into five stories of the 20-story Three Parkway tower. The medical school will take over the Bellet space.

The new Three Parkway will include offices and two floors of classroom, clinical and research space for physical therapy programs, including an exercize room and art and music therapy rooms; and a Pediatrics & Musculoskeletal Research Center lab, says Drexel's Niki Gianakaris.

Newmark Grubb Knight Frank (NGKF)'s James Egan and Jeff Tertel found the space for Drexel, which operates the former Hahnemann medical school and teaching hospital nearby. L

Like the U of Penn and Children's Hospital of Philadelphia (CHoP), Drexel is based in University City but has lately been expanding into Center City, where office rents are cheaper, instead of displacing residential neighborhoods next door in West Philadelphia.

Three Parkway, owned by the Behringer Harvard Real Estate Investment Trust I, and managed by Jones Lang LaSalle (JLL), also houses the new Philadelphia offices of suburban-based Bennett (construction software) and Fiberlink (mobile-device software).

Texas-based Behringer Harvard also owns three other nearby Center City Philadelphia office towers that used to be corporate headquarters: 1650 Arch St. (the ex-Cigna 'white castle'), United Plaza (ex-United Engineers) at 30 S. 17th St., and the old Wanamaker department-store east of City Hall, whose upstairs floors house Digitas Health and other offices. 

Joseph N. DiStefano
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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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