As the owner and manager of 16 million plus square feet of office, industrial, and flex space in Philadelphia, Liberty Property Trust is currently working to complete its fifth flex building at the Navy Yard Commerce Center located at 4000 S. 26th Street.
During the groundbreaking ceremony, Brian Cohen, vice president of Liberty Property Trust and City Manager, announced before dirt was even moved that the fifth flex building was completely preleased. With the four existing flex buildings full and the fifth 100 percent preleased, Liberty Property Trust and Synterra Partners formed a joint venture to develop of a sixth flex building.
High Profile Tenants
From China, WuXi maintains its headquarters at the Navy Yard Commerce Center and currently takes up 75,000 square feet of space at 4751 League Island Boulevard. However, the company is expanding to occupy an additional 45,000 square feet of the sixth building once finished. In all, 143 companies have space at the Navy Yard Commerce Center to include Iroko Pharmaceuticals, Thomas Jefferson University Hospitals, and GlaxoSmithKline.
Once construction of the sixth flex building is finished, the 1,200-acre Navy Yard Commerce Center development will be complete. For this final building, approximately $13 million was invested, which covers amazing design features such as glass and brick façade, minimum of 20-foot clearance, and unrivaled loading capabilities.
WuXi was Liberty’s first tenant in 2003 and remains a loyal customer. Today, this New York stock exchange traded company employees more than 7,000 people and continues to manufacture revolutionary cell therapies for both biotechnology and pharmaceutical clients in treating devastating diseases like cancer.
By taking space in the sixth flex building, WuXi will be able to serve the growing commercial and clinical manufacturing needs of clients in a more efficient manner. For patients, this is fantastic news. As stated by John Grady, president of PIDC, the Navy Yard continually attracts companies from around the world, which ultimately better promotes the city.
With the completion of the sixth flex building, more flexible and unique spaces will be available. In addition to WuXi, the sixth flex building will be home to tenants from Australia and the United Kingdom, as well as several from North America.
- EcoSave - From Australia, EcoSave is an incredible company that provides different services to reduce water consumption and energy by using various types of building upgrades and Energy Management Services. EcoSave plans to occupy roughly 20,000 square feet of space at the Navy Yard Commerce Center
- Clinigen - Clinigen from the UK will take up about 10,000 square feet. As a specialty pharmaceuticals and services business, critical treatments that save lives are provided to the healthcare industry and medical community.
Michael A. Nutter, Mayor of Philadelphia summed things up by saying that the sixth flex building in the Navy Yard Commerce City, which is scheduled for completion sometime in 2016, is exciting. With this, the city will garner both national and international attention from investors, developers, and businesses.