Quote:
Originally Posted by skyscraper
and..?
based on what?
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https://www.bisnow.com/philadelphia/news/office/comcast-three-logan-square-third-tower-82202
"The telecommunications giant has expanded and extended its lease at Three Logan Square, bringing its total footprint in the Brandywine Realty Trust-owned building from 230K to 300K SF, the Philadelphia Inquirer reports."
"Comcast's lease at Three Logan Square, at 1717 Arch St. across from its Comcast Center headquarters, was set to expire in 2018. Its new lease, brokered by Binswanger CEO David Binswanger, will run until 2023. Comcast's total footprint in Downtown Philadelphia outside of the Comcast Center now totals 590K SF, with 200K SF at neighboring Two Logan Square and 90K SF in nearby Centre Square."
My first point is that they could of taking the whole CTC bldg if they wanted to, but I think there are lots of moving parts with existing leases and continuity of business units. And, their business projections of the space they need w/r/t technology jobs, like how many they will need to hire, whatnot. Also, if there were any deals in the works and additional spaces needed was contingent on that.
My 2nd point is that they could consolidate the office spaces they are leasing from others and move them into future LPT buildings as part of their campus goals. The height and number of buildings will be a function of projected needs, based on M&A activity, organic growth, re-shuffling/re-locating existing business units as leases come up on expiration.