PHILADELPHIA | American Commerce Center | 1,510' Pinnacle / 1,210' Roof | 63 FLOORS - Page 76

KillerIman · #**1501** Posted **Nov 18, 2009, 4:18 PM**

wow! go GSK! that would be killer

Urban Jungle · #**1502** Posted **Nov 18, 2009, 6:00 PM**

Quote:

Originally Posted by wanderer34

I believe that the tower WILL get built, it's only a question of when the economy gets better. Right now the Dow Jones is in five digits, so it's a little indication that things are getting better than from last year, but you still need to take into account the unemployment rate in America, as well as in Phila, which might be slightly higher than the national average. If the building doesn't get approved this year. I'm hoping at least for next year, since it's supposed to take two years for the tower to get completed from start to finish.

The DOW above 10,000 really isn't all that significant. There was a huge drop in march and the current rally is merely a rebound of the lows. There is nothing driving up the prices of stocks if you look at some of these companies actual balance sheets. Its all cost cutting, like layoffs. How is the market above 10,000 when unemployement is about 10%. Companies can't produce when they have no employees. The market will dropoff in the long run. Or it will just experience extreme volatility for awhile like it has been. Christmas should drive up prices though for people looking to invest in decemeber and pullout in January.

On that note this is very good news to hear about the second quarter start date. I wouldn't put to much into it considering many analysts are claiming the market will drop off again, some are even calling for another stage of frozen credit. God willing this building gets built soon it would be a very welcomed addition to the skyline. Go GSK!!!

We Got Five · #**1503** Posted **Nov 18, 2009, 8:22 PM**

Let's not jump the gun here gang...this is news, yes, but in my opinion there is no way this building is getting started next year.

McBane · #**1504** Posted **Nov 18, 2009, 8:54 PM**

GSK? Did I miss something here?

Capsule F · #**1505** Posted **Nov 18, 2009, 9:15 PM**

High-rise hopeful

I asked Hill's Richter about his firm's proposed American Commerce Center tower, which would pass Comcast to be the tallest in Philadelphia, if it's built.

"Glaxo [GlaxoSmithKline] is still our most likely lead tenant, and I think we're moving closer to a deal with them," he told me. "My guess is we'll have the project moving forward in the second quarter of 2010." Though, he added, it takes time to get commitments from an "anchor tenant" whose existing leases won't expire for a few years.

http://www.philly.com/philly/busines...file_sold.html

We Got Five · #**1506** Posted **Nov 18, 2009, 9:38 PM**

McBane,

GSK has been a rumored tenant for more than a year now. Here's an article dated last year hinting that they are in play.

Possible Glaxo move might be a boon for tower project
Philadelphia Business Journal - by Natalie Kostelni Staff Writer

http://philadelphia.bizjournals.com/...6/story14.html

Ninjawho · #**1507** Posted **Nov 19, 2009, 3:08 AM**

Yea but you have to remember that it is kinda a big deal that he's mentiong GSK tho. Cause I think it kinda means one of two things:

1. If this whole project is a fluke and this is just an elaborate scheme to flip the property than throwing around names of possible tenants would work in their favor.

2. If the project is legitimate, (which we all seem to be agreed that it is), than mentioning GSK by name would be risky unless he really felt it was going somewhere. Its not really sound business practice to throw around names when nothings going to happen. Of course, he could be mentioning GSK as leverage against another company, but again if GSK wasn't really in play they could just come out and say, "you're crazy man."

McBane · #**1508** Posted **Nov 19, 2009, 8:35 PM**

I know GSK has been rumored for years but the sudden bursts of enthusiasm for GSK seemed out of the blue...until I read the JD article that Capsule posted. Thanks.

Don098 · #**1509** Posted **Dec 4, 2009, 5:48 PM**

Does anyone think that the recent Comcast aquisition of NBC Universal adds to the pool of potential tenants? There has been some speculation that Comcast thought about scrapping II Penn Plaza for some space in the ACC...it sure would be a sexy building, especially one from which they could broadcast anything if they ever wanted to...

mrskyline · #**1510** Posted **Dec 4, 2009, 7:56 PM**

Quote:

Originally Posted by Don098

Does anyone think that the recent Comcast aquisition of NBC Universal adds to the pool of potential tenants? There has been some speculation that Comcast thought about scrapping II Penn Plaza for some space in the ACC...it sure would be a sexy building, especially one from which they could broadcast anything if they ever wanted to...

That Comcast-NBC deal hasn't happened yet and there are many media watchdog groups that are fighting to make sure it is not allowed to happen. Believe me, nobody wants to see this building rise on the Philly skyline more than I do, but I think the implications of this deal are really troubling. If this deal goes through it will mean higher prices, more monopoly and a handful of corporate voices drowning out what should be a free press.

Zapatan · #**1511** Posted **Dec 4, 2009, 8:13 PM**

From SkyscraperCity

Quote:

Well the deal went through. Local news this morning in Philly is saying that there is talk Comcast might move most of the management to Philly along with some possible production. They further stated that analysts are saying that Comcast could potentially move everything to Philly, and "do what Ted Turner did with CNN and Atlanta for Philly".

Now what the relation to the American Commerce Center has to do with it has yet to be seen. But as I wrote a few posts above, maybe the builders could lure Comcast in.....

pwp · #**1512** Posted **Dec 4, 2009, 9:06 PM**

So this is quoting a user named Grk101 from SkyscraperCity.com. Although he seems somewhat knowledgeable of the situation given a few of the posts I read, it runs counter to everything I've heard from local news on the subject. I hope this guy cites a source because it's not fair to get my hopes up like this!

I'd love to see their operations move here and occupy the ACC but realistically, the costs involve, loss and/or relocation of laborforce, time, etc make this virtually unrealistic.

We Got Five · #**1513** Posted **Dec 4, 2009, 9:11 PM**

"Local news this morning in Philly is saying that there is talk Comcast might move most of the management to Philly along with some possible production."

Local News? Really...where?

Ninjawho · #**1514** Posted **Dec 5, 2009, 5:42 AM**

Wall Street Journal has a little perspective on it. At the very least, and still quit important we get some worldwide spotlight shown on us..

http://online.wsj.com/article/BT-CO-...03-713045.html

cubanChris · #**1515** Posted **Dec 5, 2009, 3:51 PM**

Any chance on a more thorough breakdown of that article? Can only read the first two paragraphs

scalziand · #**1516** Posted **Dec 5, 2009, 5:06 PM**

^^Just do a search for the article. A bunch of other services picked up that story too. Heck, it's not even a Wall Street Journal article in the first place.

Here's one:http://www.smartmoney.com/news/on/?s...0091203-000674

Urban Jungle · #**1517** Posted **Dec 5, 2009, 7:34 PM**

Without any concrete sources from the post on Skyscapercity I will be the pessimist and not believe it until I see it.

Along with the rest of you hear I haven't seen any "local news" state that comcast will be moving a large amount of operations to philadelphia. As I stated in PhillyVIII New York is a media town with major operations already in existance. Maybe it will cost less in the long run to move operations to philadelphia due to low operating costs but how much will it cost in the short run to move all those operations here? Im guessing alot. It will be up to comcasts corporate financiers to decide on whether the juice is worth the squeeze. I wouldn't rule it out but we won't hear anything about it until comcast has a full financial analysis and idea of the implications of moving anything out of NY.

NYguy · #**1518** Posted **Dec 5, 2009, 10:09 PM**

Quote:

Originally Posted by pwp

So this is quoting a user named Grk101 from SkyscraperCity.com. Although he seems somewhat knowledgeable of the situation given a few of the posts I read, it runs counter to everything I've heard from local news on the subject. I hope this guy cites a source because it's not fair to get my hopes up like this!

I'd love to see their operations move here and occupy the ACC but realistically, the costs involve, loss and/or relocation of laborforce, time, etc make this virtually unrealistic.

http://www.nytimes.com/2009/12/04/bu...fT1VV/kf1v5JqQ

G.E. Makes It Official: NBC Will Go to Comcast

The Comcast Center, second from left, in Philadelphia on Thursday.

NBC’s headquarters will remain in New York, the companies said.

Quote:

Jeff Zucker, the current head of NBC Universal, will stay on as chief executive and report to the chief operating officer of Comcast, Steve Burke. In a statement released by the companies Thursday morning, Mr. Zucker called the deal the “start of a new era” for NBC.

The deal could take up to 18 months to pass regulatory muster. Although Comcast is based in Philadelphia, NBC’s headquarters will remain in New York, the joint release said.

There could be a positive influence down the line, but I don't think anything directly related to operations.

Plokoon11 · #**1519** Posted **Dec 6, 2009, 12:18 AM**

Sounds like great news!

Zapatan · #**1520** Posted **Dec 6, 2009, 6:04 AM**

Man this building really could get built, this is exciting!