Law firm Morgan, Lewis & Bockius LLP is nearing a deal for a new headquarters building on west Market Street, one of two Center City Philadelphia office projects that could rise on land owned by developer Parkway Corp.
A Morgan Lewis spokesperson said in an emailed statement Thursday that it is in “active negotiations to sign a letter of intent to move in three years to a new development” at the 23rd and Market Street site.
“As we maintain a constant focus on client service, we believe this new development will provide creative space design infused with cutting-edge technology that will increase collaboration and operational efficiencies,” the law firm said.
Parkway began working in January on designs for an 18-story tower that would occupy most of the southern side of the 2200 block of Market Street, it said in an application for a state redevelopment subsidy for the $175.9 million project.
The developer also is working on a 15-story office tower proposal for an undisclosed tenant on property that it owns at 20th and Arch Streets.