by Navy Yard Philadelphia
October 22, 2013
Categories: Development Updates,
With shovels in hand and a half-dozen of their LEED(R) certified buildings as backdrop, executives from Liberty Property Trust/Synterra Partners today hosted a groundbreaking ceremony for their eighth high performance building in The Navy Yard, the new headquarters for Franklin Square Capital Partners at 201 Rouse Blvd.
Speaking at the ceremony, Franklin Square Founder and CEO Michael C. Forman said, “We are excited to join the thriving Navy Yard community, where we feel we can create an environment for our growing and hardworking team that fosters productivity, innovation, collaboration and healthy lifestyles.”
The 80,050-square-foot, Class A office building is located on 4.4 acres just south of the Courtyard by Marriott (currently under construction) and will front a newly developed 5-acre park with various recreational amenities.
“This project represents the beginning of the next phase of one of the nation’s most successful new work environments,” said Bill Hankowsky, Chief Executive Officer, Liberty Property Trust. “It is fitting that we are here to begin development of an exciting workplace for such a dynamic company as Franklin Square Capital Partners.”
This is the twelfth development project initiated by Liberty at The Navy Yard in just nine years, representing over 1.2 million square feet of office, industrial and hotel space. Seven of those projects, which have been LEED certified by the U.S. Green Building Council, have been developed in partnership with Synterra Partners. 201 Rouse Boulevard will mark the eighth high performance building and is designed to achieve LEED(R) Gold certification under the Core & Shell(TM) rating system. Liberty anticipates delivering the building in the first quarter of 2015.
“This is the fifth project to break ground at The Navy Yard since the release of our updated master plan earlier this year. We are thrilled to have Franklin Square join the 130 companies that already employ more than 10,000 people at The Navy Yard,” said John Grady, President of PIDC. “The new Franklin Square headquarters adds to the continuing development and growth of The Navy Yard, and further demonstrates the vitality and attractiveness of the campus environment created over the last decade.”
From the time that Liberty and Synterra broke ground on the bakery for Tasty Baking Company in 2007, the partnership has continuously had at least one active project under construction over the last six years and that momentum continues with the start of construction on 201 Rouse Blvd.
“The Navy Yard’s vibrant, progressive, and environmentally sustainable culture continues to attract progressive growing companies such as Franklin Square Capital Partners,” said Alan Greenberger, Deputy Mayor for Economic Development for the City of Philadelphia. “The continued commitment to sustainable, high quality development by Liberty Property Trust and Synterra Partners, supported by a design and construction team whom are all Philadelphia based, is a testament that Philadelphia is leading the way with world class development to support world class companies.”
In addition to Liberty/Synterra, all of the major project partners are either headquartered in or have offices in Philadelphia, including DIGSAU (architect), Turner Construction (general contractor), Re:vision Architects (LEED consultants), Environetics (structural design), Pennoni Associates (site and civil design), Francis Cauffman (interior architects) and Fury Design (interior designers).
Franklin Square Building to offer modern workspace and amenities
201 Rouse will feature a ground floor glass pedestal with three floors of zinc exterior cladding above incorporating floor to ceiling windows throughout the office space and a lobby featuring exceptional materials such as wood flooring, hand-chiseled Jerusalem limestone and Venetian plaster.
The interiors of the building will showcase an open floor plan, vast amounts of natural light, a health food-focused cafe, indoor and outdoor recreational facilities, as well as state-of-the-art conference facilities.
The building will be developed with numerous environmentally sustainable and high performance design features including highly efficient and sophisticated mechanical systems with ongoing air quality monitoring; use of regional materials for construction; environmentally sensitive landscaping native to the region; and a robust construction recycling program to divert construction waste from landfills.
Opening in the first quarter of 2014 will be the new flagship Courtyard by Marriott Philadelphia South at The Navy Yard, a hotel/restaurant complex located just north of the Franklin Capital building. In addition, internationally renowned chef Marc Vetri will be opening a new restaurant and bar called The Brig in the second quarter of 2014, which will further expand the amenities available at The Navy Yard.
About The Navy Yard and PIDC
The Navy Yard is a 1,200 acre, dynamic urban development, offering the Philadelphia region a unique and centrally-located waterfront business campus committed to smart energy innovation and sustainability. The Navy Yard is home to more than 10,000 employees and 130 companies in the office, industrial/manufacturing, and research and development sectors, occupying 6.5 million square feet of real estate in a mix of historic buildings and new high-performance and LEED(R) certified construction. In its master developer role at The Navy Yard, PIDC, Philadelphia’s city-wide economic development corporation, manages all aspects of the property’s management and development, including master planning, leasing, property management, infrastructure development, utility operation, and structuring development transactions.
About The Navy Yard Corporate Center
The Navy Yard Corporate Center is a master-planned development within The Navy Yard featuring state-of-the-art, sustainable multi-tenant and build-to-suit office space, developed and owned by Liberty Property/Synterra, L.P., a joint venture between Liberty Property Trust and Synterra Partners. During the last eight years, seven properties totaling over 580,000 square feet have been completed in The Navy Yard Corporate Center representing an investment of over $160 million in development by Liberty Property/Synterra, L.P. Additionally at The Navy Yard, the partnership has developed 4750 League Island Boulevard for Unique Industries and three flex buildings at The Navy Yard Commerce Center representing an additional investment of $64 million.
About Liberty Property Trust
During the last decade, Liberty has invested nearly $1.7 billion in USGBC LEED(R) registered and/or certified sustainable developments. The company has been recognized for its commitment to sustainable design and its positive impact on its tenants’ employees, the environment and its communities. Liberty has received numerous awards for its approach and commitment to sustainability, including the National Association of Industrial and Office Properties (NAIOP) 2008 Developer of the Year Award, the CoreNet Global 2008 Sustainability Leadership Award for Design & Development and the 2007 NAIOP Green Development Award.
Liberty is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties. Liberty’s 106 million square foot portfolio consists of 843 properties providing office, distribution and light manufacturing facilities to 2,100 tenants.
About Synterra Partners
Synterra Partners is a local real estate development company founded in 1996. The firm has an extensive portfolio of projects that include hotels and resorts, commercial and retail developments both domestic and international. Synterra Partners has earned its extraordinary reputation by working successfully with public and private organizations to create innovative strategies for complex development projects.
About Franklin Square Capital Partners
Franklin Square is a leading manager of alternative investment funds designed to enhance investors’ portfolios by providing access to asset classes, strategies and asset managers that typically have been available to only the largest institutional investors. The firm’s funds offer “endowment-style” investment strategies that help construct diversified portfolios and manage risk. Franklin Square strives not only to maximize investment returns but also to set the industry standard for best practices by focusing on transparency, investor protection and education for investment professionals and their clients.
Founded in Philadelphia in 2007, Franklin Square quickly established itself as a leader in the world of alternative investments by introducing innovative credit-based income funds, including the industry’s first non-traded BDC. The firm currently manages three funds with approximately $7.9 billion* in assets. Forbes Magazine ranked Franklin Square 13th on its 2013 list of America’s most Promising Companies. Franklin Square distributes its funds through its affiliated broker-dealer, FS2 Capital Partners, LLC. For more information, please visit www.franklinsquare.com. *Assets under management as of June 30, 2013.
SOURCE: Liberty Property Trust
Liberty Information: Liberty Property Trust Brian Cohen, 215-568-4100 or Liberty Media Contact: a.s.a.p.r. Robbie Tarpley Raffish, 443-944-9301
Franklin Square Capital Partners Media Contact: Jennifer Connelly Public Relations Jami Schlicher, 973-647-0655