Brandywine Realty Trust and FS Investments Announce FS’s New Global Headquarters at Schuylkill Yards
Brandywine Realty Trust (NYSE: BDN) has secured a significant 117,000 square foot, 16-year lease agreement with FS Investments for their new global headquarters at 3025 JFK Blvd in Schuylkill Yards, Philadelphia. FS Investments, managing over $83 billion in assets with nearly 600 employees, chose to remain in Philadelphia after considering locations in Connecticut and New York.
The move represents a 46% increase in space from their current 80,000 square foot location at the Navy Yard, indicating significant expansion plans. The new location will join over 65 existing office, life science, and retail tenants at Schuylkill Yards. Brandywine has already delivered 70,000 square feet of retail space, with an additional 33,000 square feet planned to open in 2025.
Brandywine Realty Trust (NYSE: BDN) ha concluso un'importante affitto di 117.000 piedi quadrati per 16 anni con FS Investments per il loro nuovo quartier generale globale situato al 3025 JFK Blvd a Schuylkill Yards, Philadelphia. FS Investments, che gestisce oltre $83 miliardi di attivi con quasi 600 dipendenti, ha scelto di rimanere a Philadelphia dopo aver considerato località nel Connecticut e a New York.
Questo spostamento rappresenta un 46% di aumento rispetto alla loro attuale sede di 80.000 piedi quadrati al Navy Yard, indicando significativi piani di espansione. La nuova sede si unirà a oltre 65 inquilini esistenti tra uffici, scienze della vita e commercio al dettaglio a Schuylkill Yards. Brandywine ha già consegnato 70.000 piedi quadrati di spazio commerciale, con ulteriori 33.000 piedi quadrati previsti per l'apertura nel 2025.
Brandywine Realty Trust (NYSE: BDN) ha asegurado un importante contrato de arrendamiento de 117,000 pies cuadrados por 16 años con FS Investments para su nueva sede global en 3025 JFK Blvd en Schuylkill Yards, Filadelfia. FS Investments, que gestiona más de $83 mil millones en activos con casi 600 empleados, eligió permanecer en Filadelfia después de considerar ubicaciones en Connecticut y Nueva York.
Este movimiento representa un aumento del 46% en el espacio respecto a su ubicación actual de 80,000 pies cuadrados en Navy Yard, indicando planes de expansión significativos. La nueva sede se unirá a más de 65 inquilinos existentes entre oficinas, ciencias de la vida y comercio minorista en Schuylkill Yards. Brandywine ya ha entregado 70,000 pies cuadrados de espacio comercial, con otros 33,000 pies cuadrados planeados para abrir en 2025.
브랜디와인 리얼티 트러스트 (NYSE: BDN)는 필라델피아 슈킬킬 야드의 3025 JFK Blvd에 위치한 새로운 글로벌 본사를 위한 FS 인베스트먼트와 117,000 평방피트 규모의 16년 임대 계약을 체결했습니다. FS 인베스트먼트는 거의 600명의 직원과 함께 830억 달러 이상의 자산을 관리하며, 커네티컷과 뉴욕의 위치를 고려한 끝에 필라델피아에 남기로 결정했습니다.
이번 이전은 현재 80,000 평방피트 규모의 네이비 야드 위치에서 46% 증가된 공간을 나타내며, 상당한 확장 계획을 반영합니다. 새로운 위치는 슈킬킬 야드에 있는 65개 이상의 기존 사무실, 생명과학 및 소매 임차인과 함께하게 됩니다. 브랜디와인은 이미 70,000 평방피트의 소매 공간을 제공했으며, 2025년에 추가로 33,000 평방피트가 개장될 예정입니다.
Brandywine Realty Trust (NYSE: BDN) a signé un contrat de bail significatif de 117 000 pieds carrés pour 16 ans avec FS Investments pour leur nouveau siège mondial situé au 3025 JFK Blvd à Schuylkill Yards, Philadelphie. FS Investments, qui gère plus de 83 milliards de dollars d'actifs avec près de 600 employés, a choisi de rester à Philadelphie après avoir envisagé des emplacements au Connecticut et à New York.
Ce déménagement représente une augmentation de 46% en espace par rapport à leur emplacement actuel de 80 000 pieds carrés au Navy Yard, indiquant des plans d'expansion significatifs. Le nouvel emplacement rejoindra plus de 65 locataires existants dans les bureaux, les sciences de la vie et le commerce de détail à Schuylkill Yards. Brandywine a déjà livré 70 000 pieds carrés d'espace commercial, et 33 000 pieds carrés supplémentaires devraient ouvrir en 2025.
Brandywine Realty Trust (NYSE: BDN) hat einen bedeutenden Mietvertrag über 117.000 Quadratfuß für 16 Jahre mit FS Investments für ihre neue globale Zentrale in der 3025 JFK Blvd in Schuylkill Yards, Philadelphia, gesichert. FS Investments verwaltet über 83 Milliarden Dollar an Vermögenswerten mit fast 600 Mitarbeitern und hat sich entschieden, in Philadelphia zu bleiben, nachdem Standorte in Connecticut und New York in Betracht gezogen wurden.
Der Umzug stellt eine 46%ige Erhöhung gegenüber ihrem derzeitigen Standort von 80.000 Quadratfuß im Navy Yard dar und deutet auf bedeutende Expansionspläne hin. Der neue Standort wird sich über 65 bestehende Mieter in den Bereichen Büro, Lebenswissenschaften und Einzelhandel in Schuylkill Yards hinzufügen. Brandywine hat bereits 70.000 Quadratfuß Einzelhandelsfläche bereitgestellt, und weitere 33.000 Quadratfuß sind für die Eröffnung im Jahr 2025 geplant.
- Secured long-term 16-year lease agreement for 117,000 square feet
- 46% space increase indicates strong tenant growth
- Adding major tenant with $83B in assets under management to property portfolio
- Additional 33,000 square feet of retail space opening in 2025
- None.
Insights
This lease agreement marks a significant strategic victory for Brandywine Realty Trust, securing a 117,000 square foot, 16-year commitment from FS Investments, a rapidly growing asset manager with $83 billion in AUM. The deal's importance extends beyond mere square footage:
- The 46% space expansion from FS's current 80,000 sq ft footprint demonstrates strong organic growth potential and validates BDN's ability to attract and retain premium tenants.
- The 16-year lease term provides exceptional cash flow visibility and strengthens BDN's weighted average lease term (WALT), a important metric for office REITs.
- Landing a major financial services tenant enhances Schuylkill Yards' positioning as a mixed-use innovation hub, potentially catalyzing further interest from similar institutional-quality tenants.
- The competitive win over alternative locations in Connecticut and New York underscores the development's strategic location and amenity offerings.
For BDN investors, this transaction represents a strong vote of confidence in both the company's development strategy and Philadelphia's office market resilience. The long-term nature of the commitment from a growing financial services firm provides valuable stabilization for the Schuylkill Yards project and could help accelerate leasing momentum for remaining space in the development.
Growing asset management firm chooses to stay in Philadelphia after extensive search
PHILADELPHIA, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE: BDN) and FS Investments today announced they have entered into a 117,000 square foot, 16-year lease for the Philadelphia-based alternative asset manager’s new global headquarters at 3025 JFK Blvd. in Philadelphia’s dynamic new neighborhood, Schuylkill Yards.
FS Investments is one of Philadelphia’s fastest growing companies and is helping Philadelphia reestablish its reputation as a home to leading financial services firms. With over
“After a thorough process, during which we considered various sites in the Philadelphia region, Connecticut and New York, we ultimately chose Schuylkill Yards because of the value we placed on maintaining our headquarters in Philadelphia, the fantastic work being done to develop a vibrant area of the City, the team at Brandywine and the many opportunities and conveniences this building and neighborhood will offer our employees and clients,” said Michael Forman, Chairman and CEO of FS Investments. “It was our hope that our global headquarters would remain in Philadelphia, and we’re excited we will continue to grow the firm here and deepen our commitment to the City we’ve always called home.”
“Pennsylvania is the best place in the country for businesses to grow and thrive – and I’m pleased FS Investments recognizes that and its headquarters will remain in Philadelphia,” said Governor Josh Shapiro. “Pennsylvania has a strong business climate, a strategic location, and thriving industries for companies ready to grow and succeed. FS Investments’ growth highlights the Commonwealth’s ability to attract major companies, create good-paying jobs, and support our local communities – and my Administration will continue to aggressively compete and win on a national scale.”
“This is a big win for Philadelphia and for our Commonwealth as a whole,” said Secretary of Community and Economic Development Rick Siger. “FS Investments’ decision demonstrates to the financial services industry what we at DCED already know: Philadelphia is a premier destination for financial services firms, and Schuylkill Yards is an ideal place for businesses to locate and grow.”
Mayor Cherelle L. Parker added, “Not only is FS Investments creating jobs and driving growth in an important business sector – asset management – but the company is also very engaged civically, something we value greatly across our business community in Philadelphia.”
“I was proud to lead the legislative effort to help Brandywine further expand Schuylkill Yards, a model mixed-use development that’s driving job growth and helping address our housing needs without displacing residents,” added Philadelphia City Councilmember Jamie Gauthier.
State Senator Vincent Hughes said, “Brandywine has been a great partner in developing Schuylkill Yards and for over 30 years making University City an international destination for science and innovation. I am excited to have a great company like FS Investments move to my district and be a leader in what we expect to be the foundation for major growth for Philadelphia and the region.”
“We’re excited for FS Investments to continue their growth in Philadelphia and join many other world-class partners that are expanding Center City’s nucleus, making Schuylkill Yards a vibrant business and residential district and confirming our vision to create a forward-thinking innovation hub,” said Jerry Sweeney, President and CEO of Brandywine Realty Trust, owner and operator of Schuylkill Yards. “Every business and detail we incorporate into Schuylkill Yards is carefully considered not only to ensure we build a strong sense of community, but that those living and working here can live their best lives. Through our work, we want our collective presence to drive positive outcomes for the City of Philadelphia.”
FS Investments will join the more than 65 office, life science and retail tenants that already call Schuylkill Yards home. Brandywine Realty Trust has also delivered 70,000 square feet of retail space in Schuylkill Yards, with an additional 33,000 square feet set to open in 2025. All of this development is adjacent to the large-scale restoration and renovation of William H. Gray III 30th Street Station.
FS Investments has been headquartered in the City of Philadelphia since its founding in 2007 and has been located at the Navy Yard since 2015, where it occupies 80,000 square feet. The move represents a
Along with its asset management business, the Schuylkill Yards site will be home to FS Investments’ “non-profit in residence” program. Among the non-profits FS supports with office space and other resources is Financial Scholars, an FS-founded program that provides high school students, teachers and families with the tools needed to develop financial skills, build greater wealth and achieve financial empowerment. Financial Scholars’ Philadelphia chapter is now operating in 39 Philadelphia high schools, including five in West Philadelphia, and the non-profit recently launched its second chapter in Connecticut. “Giving back through volunteerism and philanthropy has long been a hallmark of our culture at FS, and I look forward to continuing that tradition in our new headquarters,” concluded Forman.
FS Investments was represented by Tactix Real Estate Advisors.
About Brandywine Realty Trust
Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 126 properties and 19.4 million square feet as of December 31, 2024. Our purpose is to shape, connect and inspire the world around us through our expertise, the relationships we foster, the communities in which we live and work, and the history we build together. For more information, please visit www.brandywinerealty.com.
About FS Investments
FS Investments is a global alternative asset manager dedicated to delivering superior performance and innovative investment and capital solutions. The firm manages over
Contact Information
Brandywine Realty Trust:
Heather Crowell
Gregory FCA
215-316-6271
heather@gregoryfca.com
FS Investments:
Melanie Hemmert
215-309-6843
media@fsinvestments.com
FAQ
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