2C — June 14 - 27, 2019 — Pennsylvania — M id A tlantic
Real Estate Journal
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P ennsylvania Children’s Hospital of Philadelphia expands Rubenstein & Amerimar deliversnewCHOPspace
HILADELPHIA, PA — Rubenstein Part- ners, L.P. (together with its affiliates, Rubenstein), a vertically-integrated real estate investment advisor focused on value-added office property opportunities, togeth- er with its partner Amerimar Enterprises Inc. (Ameri- mar), announced the comple- tion of a 54,000 s/f lease expan- sion with Children’s Hospital of Philadelphia (CHOP) at The Wanamaker Office Building (Wanamaker). CHOP now leases over 300,000 s/f across 6 floors at Wanamaker following the newly signed transaction. At the same time, the building ownership is on the verge of completing the final phase of their current modernization plans for the historic building. “We’re pleased that our strategy for Wanamaker ap- pears to be resonating with existing tenants and major users seeking modern space in Center City,” said Stephen Card , regional director of the Mid-Atlantic and principal at Rubenstein. “From the beginning, we have sought to preserve the building’s best architectural and historical elements while modernizing P
recently leased 7,000 s/f of of- fice space in the building. “CHOP’s recommitment and Kambi’s decision to locate their regional Headquarters at Wanamaker affirms that the repositioning strategy is work- ing. Also, our interest level from prospective tenants has dramatically increased with the completion of most of the renovations,” adds Sid Smith and Neil Brazitis of New- mark Knight Frank , leasing agents for the building.
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it with thoughtful improve- ments. As we deliver the sec- ond phase of improvements – primarily the new two-floor amenity space that revitalizes the existing Grand Atriumand connects it to a new state-of- the-art fitness center – I think that both existing users in the building and the broader mar- ket will understand exactly how special Wanamaker can be.” In addition to the approxi- mately 54,000 s/f CHOP lease expansion, a British-based online gaming firm, Kambi, Wanamaker Office Building
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