Glaxo to move from Center City to Navy Yard
Pharmaceutical giant GlaxoSmithKline is moving its Philadelphia operations to a new, $81 million building at the Navy Yard Corporate Center, it was announced today.
Pharmaceutical giant GlaxoSmithKline is moving its Philadelphia operations to a new, $81 million building at the Navy Yard Corporate Center, it was announced today.
GSK says it will sign 15 1/2-year lease for a four-story, 205,000-square-foot facility being developed by Liberty Property Trust and Synterra Partners.
The company is expected to move all employees currently based at the One and Three Franklin Plaza buildings in Center City to the new facility in late 2012 or early 2013.
"We are delighted to continue our proud Philadelphia history, which dates to 1830, and to offer our employees an exciting and collaborative new work space," Deirdre Connelly, president of GlaxoSmithKline North America Pharmaceuticals, said in a statement.
"This facility, with its environmentally friendly and efficient design, aligns with our global commitment to work smartly and operate as a green company," she said.
Liberty said the building will be designed to achieve LEED Platinum certification, the highest possible designation in the internationally recognized sustainable building rating system.
Construction is expected to begin in late summer.
Mayor Nutter said he was "delighted" that GSK will remain in Philadelphia called the project "another important piece of the Navy Yard's redevelopment."
The building is to be designed by Robert A.M. Stern Architects.
Both Stern and Liberty have been involved in the redevelopment of the Navy Yard and together designed and built the Comcast tower in Center City.
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