If it's going from 830ksf to 870ksf, then that does sound like only 2 floors. I guess it would depend where they are adding the additional space. If at the top where it is tapered quite a bit it could be more floors. If they added that space near the base it may be only 2 floors since some floors are 25,000 sf each (UPenn's 100ksf was quoted as four floors presumably lower in the building where it is wider). But "several" indeed sounds like more than a "few" which is typically at least 3-4.
To complicate our guessing more, the office space is going from 575k to 635k so office space is going up 60ksf but the building is only gaining 40ksf so they must be shifting other things around as well to allow for something being converted from whatever it is to 20ksf of office space. (sounds like 6,000sf of retail space was lost and 8 apartments were lost at the least)
I can't see how Penn would not increase their agreed upon 100ksf in this building. Especially if they really do mean to empty Penn Tower starting soon and if they really do want to empty out their non-clinical leased buildings on Market Street (3001/3101/3535/etc).
Cheers,
G.
Some more detail (
http://www.cnbc.com/id/101630162) from previously posted stats:
As previously announced, we are underway with the development of FMC Tower at Cira Centre South, a trophy class, mixed-use office tower designed by the architectural firms of Pelli Clark Pelli and Bower Lewis Thrower to be located at the southern end of our Cira Centre complex in University City. Upon completion, FMC Tower at Cira Centre South will approximate 870,000 rentable square feet comprising 635,000 square feet of office space, 4,000 square feet of retail space and 268 luxury apartment suites, of which up to 100 units will be fully furnished with concierge services and the balance to be market rate rental apartments. Given the increased size of the project, our total anticipated investment is $385 million including all costs to complete the furnished residential units. Brandywine has executed a 16-year lease with FMC for 280,000 square feet including their recent expansion and a 20-year lease with the University of Pennsylvania for 100,000 square feet, resulting in total office pre-leasing of 60%. Groundbreaking will occur in the second quarter of 2014 with completion scheduled for June 2016. Initial funding of the development will be from available corporate funds with a review underway of other institutional debt and/or equity sources.
As part of our Cira South master plan, we are developing a one-acre elevated park known as Cira Green creating a roof on the Cira South Garage directly between the FMC Tower at Cira Centre South and evo properties at Cira Centre South.
Cira Green will be completed in the third quarter of 2014, and extends the recreational green belt created by the Schuylkill River Trail and Penn Park and will be an outstanding amenity for the entire University City neighborhood. We will fund the $11.3 million cost of Cira Green from available corporate funds and $1.5 million has been funded as of March 31, 2014.
Prev
haha
Linear Mode
