Jerry Bermingham spins around the concourse at the King of Prussia Mall, pointing out all the amenities nearby: A recently opened Starbucks. A Neiman Marcus store. Farther down, a food court. Smack in the middle of all those shopping and hospitality options sits a vacant anchor store previously home to Lord & Taylor, which closed in… Read more »
Defense contracting giant Lockheed Martin Corp. plans to expand its operations in King of Prussia with a new 55,000-square-foot research facility. The proposed new project was scheduled to go in front of the Upper Merion Township planning commission on Wednesday but was tabled at the request of Lockheed Martin (NYSE: LMT). The proposal will be… Read more »
An affiliate of Piazza Management is proposing an expansive mixed-use development in King of Prussia that calls for hundreds of new apartments, a parking garage and tripling the size of an existing office building. Late developer and car dealership owner Vince Piazza acquired the 18.14-acre property at 1100 First Ave. in 2016 under an entity called Royale… Read more »
More life sciences space is headed to King of Prussia. MLP Ventures has gained approval to add 37,234 square feet of lab and life sciences office space onto an existing building it owns at 2100 Renaissance Blvd. The three-story expansion was approved unanimously by the Upper Merion Township Board of Supervisors on Sept. 8. *Article… Read more »
Exelixis Inc., an Alameda, California, biotechnology company, is in negotiations with Brandywine Realty Trust to have the real estate company develop a new 200,000- to 250,000-square-foot building in King of Prussia. The complex would be constructed at 650 and 651 Park Ave. Half of the space would be offices while the other half would be… Read more »
The developer of Discovery Labs is proposing an additional 1 million square feet of new lab and office space in a dozen buildings on its King of Prussia campus — significantly expanding its footprint and capacity to attract life sciences companies to the site. Representatives from Discovery Labs presented plans before Upper Merion zoning officials… Read more »
MLP Ventures acquired two office buildings at 2201 and 2100 Renaissance Blvd. in King of Prussia, Pennsylvania, for $41.8 million, or about $180 per square foot, from Equus Capital Partners. The two office buildings total 232,644 square feet in the Renaissance Park business center. There is 98,764 square feet of contiguous space available for lease… Read more »
Greenphire, a technology company that focuses on the clinical trial industry, has more than doubled its King of Prussia headquarters and plans to double its employee count over the next two to three years. The company now leases 55,000 square feet at Valley Forge Park Place at 1018 W. 9th Ave., where it had been… Read more »
Amazon has paid $26.5 million for an aged office property in King of Prussia, a regional first for the company that until now has leased — rather than owned — its real estate in the Philadelphia area. Amazon.com Services LLC bought the two-story, 230,000-square foot building in June from an affiliate of Malvern-based investor Eli… Read more »
A real estate company from Rehoboth Beach has acquired 211 S. Gulph Road, a 102,204-square-foot office building in King of Prussia, for $25.8 million, or roughly $250 a square foot. This marks Jack Lingo Asset Management’s entrée into the Philadelphia office market. About a year ago, the company added office properties to its overall investment… Read more »
