5/19/2012

2.0 University Place


Developers University Place Associates have landed a tenant large enough to jump start construction of a $30 million office building at 30 N. 41st Street in Powelton village.  It will be the first L.E.E.D. Platinum Pre-Certified Building in Philadelphia.  The process of landing a tenant has been ongoing for nearly 3 years.  University Place Associates will break ground in December on a five-story, 97,000-square-foot building and serves as new office construction.


The Citizenship and Immigration Services signed a 15-year lease on 53,000 square feet valued at $26 million.  The immigration agency is currently housed at 1600 Callowhill St.  They want to be a community based processing center, and relocating to West Philadelphia is part of that mission.  It will house CIS' district office, which covers Pennsylvania, a field office for the eastern part of Pennsylvania and serves as an application support center.  About 142 employees will work out of the new space.

Currently a 15,000-square-foot lease with a private company is being negotiated and the brokers are confident the remainder of the space, from about 30,000 square feet to more than 40,000 will fill up


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