Brandywine Realty Trust, the developer responsible for a large chunk of University City’s building boom, is moving out of its headquarters in the ‘burbs and into the recently completed FMC Tower.
The move from Radnor to University City is part of the developer’s continuing effort to invest in West Philly, Brandywine said in a statement.
With Brandywine Realty signing on, FMC Tower is now 96 percent leased, a spokesperson confirmed to Curbed Philly. Just 38,518 square feet remains up for grabs.
Already, the 49-story FMC Tower is home to a long list of tenants, such as FMC Corporation and the University of Pennsylvania. Meanwhile, AKA University City has opened its 268 luxury hotel units on the top floors of the tower.
Brandywine Realty Trust is also embarking on another major multi-billion project nearby with Drexel University, which means the move is coming at an opportune time for the developer. Brandywine and Drexel are behind the multi-billion dollar Schuylkill Yards project, which recently received City Council approval and is expected to break ground this year. As part of its role in the project, Brandywine recently committed $5 million to a Neighborhood Engagement Initiative.
The developer’s move is also on trend with suburban-based offices moving into Philadelphia. A recent JLL report on Philadelphia’s skyline pointed this out, stating “Suburban tenants are dipping their toes in the city, CBD companies are growing, and established firms are looking to differentiate in new or renovated spaces.”