Nine Design Center merchants lease space at new East Market project

Decorating and home-interiors merchants that now occupy Center City's Marketplace Design Center will be relocating to the East Market project when the first phase of the blockwide mixed-use development is completed in fall 2016.

Nine merchants will lease 48,000 square feet at the former Family Court building at 34 S. 11th St., which is being renovated as part of the $500 million project, developer National Real Estate Development, said Thursday in a news release.

"The area east of Broad Street has become the vibrant heart of Philadelphia's design community, with so many designers, architects and furniture stores calling it home," Gregory Augustine, owner of the Baer Collection furniture and lighting showroom, said in the release. "In moving to East Market, we have the opportunity to make our showrooms even more accessible to the design community and Philadelphia consumers and to create a 'design hub' right here in Center City."

National Real Estate Development, which is part of National Real Estate Advisors, and co-owner SSH Real Estate also announced Thursday that they had closed on a $38.5 million construction loan with Wells Fargo to continue work at the East Market site.

The home-decor merchants will occupy two full floors at East Market, with the option to expand by 24,000 square feet more as their businesses grow, the developers said.

The merchants plan to move this month to a temporary location at the historic Witherspoon Building at 1319 Walnut St. and remain there until the permanent space at East Market is ready. They are leaving before Marketplace Design Center's redevelopment into an office and residential complex by PMC Property Group, which purchased the industrial building with a partner last year.

Their space at East Market will be known simply as the Design Center. The merchants include Kravet Fabrics, Beatrice & Martin floor coverings, and others.

The developers have already announced that Mom's Organic Market will lease space at the former Family Court building.

"East Market will be a place for the creatives, innovators and young professionals who value design and originality, and want to be in the center of it all," said Daniel Killinger, NREA's managing director. "The Design Center showrooms perfectly complement our vision for this historic and transforming section of Philadelphia, and we are delighted to welcome them to East Market."

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