GlaxoSmithKline moving to Philadelphia Navy Yard
GlaxoSmithKline (NYSE:GSK), a leading worldwide research-based pharmaceutical company, and Liberty Property Trust (NYSE:LRY) has announced that GSK has signed a 15.5-year lease for a new building to be developed by Liberty Property Trust and Synterra Partners. Located at Five Crescent Drive in the Navy Yard Corporate Center, the 205,000 square-foot, four-story facility will be designed to achieve LEED® Platinum certification, the highest possible designation in the internationally-recognized sustainable building rating system. The project represents an $81 million investment by Liberty.
Site work started the end of February, with construction of the building commencing in late summer. GSK will move all employees currently based at the One and Three Franklin Plaza buildings in Center City Philadelphia to the new building between fourth quarter 2012 and first quarter 2013, immediately after completion.
“We are delighted to continue our proud Philadelphia history, which dates back to 1830, and to offer our employees an exciting and collaborative new work space,” said Deirdre Connelly, President of GlaxoSmithKline North America Pharmaceuticals, herself a Philadelphia resident. “This facility, with its environmentally friendly and efficient design, aligns with our global commitment to work smartly and operate as a green company.”
The project’s “open plan” design, which is consistent with other GSK facilities, is designed to bring employees together to foster better communication and idea sharing. A variety of work spaces will be available, including shared work stations, team tables, meeting areas, social areas and quiet rooms. The facility will also offer a wide variety of amenities, such as a fitness center, restaurant, retail services, and free parking for employees and visitors. The Navy Yard Corporate Center, in which it is based, provides park space with walking paths, fields for sports leagues and even a putting green.
“On behalf of the City of Philadelphia, I am delighted that GlaxoSmithKline, a worldwide leader in the pharmaceutical industry and a major Philadelphia employer, has reaffirmed its long commitment to the City,” said Mayor Michael Nutter. “With this forward-looking project, another important piece of the Navy Yard’s redevelopment is advancing, and I would like to extend my congratulations to the Philadelphia Industrial Development Corporation for their continued excellent work guiding the redevelopment of the Navy Yard.”
Developer: Liberty Property Trust / Synterra
Design Architects: Robert A.M. Stern Architects
Architect: Kendall / Heaton Associates
Civil Engineer: Pennoni Associates
General Contractor: L.F. Driscoll
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