Liberty Property Trust, Synterra Partners to Build New Headquarters for Franklin Square
- Aug 12, 2013
Franklin Square Capital Partners, an investment company specialized in creating and managing alternative investment funds, will move its offices and nearly 150 employees down south to the thriving Navy Yard Corporate Center. Owned and developed by a partnership between Liberty Property Trust and Synterra Partners, the 6.5-million-square-foot Navy Yard accommodates more than 130 companies and 10,000 employees working in the office, industrial/manufacturing and research and development sectors.
Currently based at the Cira Centre in Philadelphia’s University City district, Franklin Square recently signed a long-term lease for an 80,050-square-foot building that will be developed by Liberty Property Trust/Synterra Partners LP. According to an official statement, the company was represented in the transaction by Glenn Blumenfeld and Kartik Patel of Radnor,PA-based Tactix Real Estate Advisors.
Located at 201 Rouse Boulevard on a 4.4-acre parcel just south of the construction site of the city’s newest Courtyard by Marriott hotel, the four-story building will accommodate Franklin Square’s rapid growth while fostering the company’s collaborative and innovative culture. “We are excited to keep our headquarters in Philadelphia and to join the growing community at The Navy Yard,” said Michael C. Forman, Founder and CEO of Franklin Square, in a press statement.
Construction at the site will begin in September and the developers hope to deliver the completed building in the first quarter of 2015.
The new headquarters building marketed as 201 Rouse was designed by local architectural firm DIGSAU to offer views of both Philadelphia’s skyline and the five-acre public park that Liberty Property Trust will also develop at the Corporate Center. Apart from the office component, 201 Rouse will include a café-style restaurant offering healthy food, a fitness facility, and state-of-the-art conference space.
Rendering credits to DIGSAU