Brandywine Realty Trust, a full-service, integrated real estate company, recently signed a 12.5-year lease for 31,500-square-feet of space in Schuylkill Yards in Philadelphia.
Schuylkill Yards is a 29-level, 200,000-square-foot mixed-use tower designed for office, life science, lifestyle, and residential uses. It features 326 ultra-luxury apartment units, a 29,000-square-foot indoor/outdoor amenity floor, and life science/innovative office space.
Brandywine Realty Trust’s lease represents approximately 15 percent of the tower’s commercial space.
“We are delighted to welcome a high-quality customer like Goodwin to our newest addition to the Schuylkill Yards neighborhood and the Brandywine family,” Jerry Sweeney, Brandywine Realty Trust president and CEO, said. “On a broader front, these capital transactions advance our 2023 business plan objective of generating additional liquidity and maintaining full availability under our $600 million line of credit.”
The lease was signed with global law firm Goodwin. The firm’s Philadelphia office focuses on the life sciences, healthcare, and private equity industries.
Brandywine Realty Trust also recently closed on a $50 million construction loan for a Philadelphia development project.
The project is a 144,685-square-foot office that will be the North American headquarters of Arkema, a specialty materials supplier. Construction began in January and is expected to be completed during the fourth quarter of 2024.