A 14-story, 260,000-square-foot office building next to the Schuylkill will be built and opened by late next year in Conshohocken, adding to a borough increasingly sought after by developers in recent years.
The complex, named Seven Tower Bridge, is a collaboration among Oliver Tyrone Pulver Corp., American Real Estate Partners, and the investment management firm Partners Group. The office will sit on Washington Street, next to another American Real Estate property, the 345,000-square-foot Eight Tower Bridge at 161 Washington St.
“Real estate prices are crazy here,” said Anita Barton, a member of the Conshohocken Borough Council. “We are very hot at the moment, and it’s just almost gotten out of hand.”
The developers said the 300,000-some motorists who travel on Interstates 76 and 476 and the Fayette Street Bridge will be able to see the 180-foot building, which is expected to open in November 2020. Despite having more floors than other office buildings in Conshohocken, Barton said, it will sit on less hilly terrain and thus will not be the tallest.
A prominent tenant of Seven Tower Bridge will be investment management firm Hamilton Lane, which signed a lease Oct. 11 for office space, said Kate McGann, a spokesperson for the company. Hamilton Lane will move its headquarters to the top five floors of Seven Tower Bridge and feature its logo on the penthouse.
Seven Tower Bridge has been designed so the first floor rises 50 feet above grade level, according to Oliver Tyrone Pulver. It said in its statement that the building would be outfitted with floor-to-ceiling glass walls, a marble lobby, patio and terrace, bike room, fitness center, and parking under the building that boosts the first floor, “giving every office unobstructed views and natural light.”
Oliver Tyrone Pulver will lease 4,000 square feet and Conshohocken-based Shoemaker Construction will lease 5,000 square feet. There are 121,000 square feet still available.
The construction will join the development clustered in downtown Conshohocken, Barton said.
Pharmaceutical wholesaler AmerisourceBergen is building its 12-story office headquarters along heavily traveled Fayette Street while adding on nearby streets two levels of underground parking, as well as a plaza connecting the offices to a 130-room hotel and brewpub that was once a firehouse.