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Keystone Development + Investment Achieves 203,520 Square Feet of Leasing at The Washington
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Rhea-AI Summary
Cushman & Wakefield (NYSE: CWK) and Keystone Development have signed three significant leases with Lighthouse Immersive, Impact Museums, the GSA, and Ace American Insurance Company at The Washington. This brings occupancy levels above 90%. Lighthouse and Impact Museums will utilize 31,718 square feet, creating an immersive experience for Philadelphia's visitors, while GSA leases 31,217 square feet. Additionally, Ace American Insurance renewed its 140,585-square-foot lease, and the building will now be powered entirely by renewable energy through ENGIE Resources.
Positive
Occupancy at The Washington surpassed 90%.
New leases with Lighthouse Immersive and Impact Museums enhance property value.
GSA signed a lease for 31,217 square feet, indicating stable demand.
Ace American Insurance renewed a large lease of 140,585 square feet.
The building will be fully powered by renewable energy, promoting sustainability.
Lighthouse and Impact Museums will occupy 31,718 square feet when it opens in spring 2023. With its 26-foot-tall ceilings, open blocks of space, accessibility to transit, and history, The Washington provides a space to bring a fully-immersive experience to Philadelphia. The experience will honor the features of the building along with a best-in-class food and beverage program driven by local vendors.
“With Independence Beer Garden at 100 Independence, PJ Clarke’s at The Curtis, and now Impact Museums at The Washington, Keystone is transforming Independence Mall into a true destination for not just historic, tourist attractions but now a neighborhood with dining and immersive experiences for everyone to enjoy,” says Keystone’s CEO, Bill Glazer.
GSA has signed a lease for 31,217 square feet on the second floor. Ace American Insurance Company renewed its 140,585-square-foot lease in the building.
In addition, Keystone has reached an 18-month agreement with ENGIE Resources LLC, making The Washington100% powered by renewable energy.
About Keystone Development + Investment
Keystone is a vertically integrated commercial real estate development and investment company. It delivers value for investors and tenants by creating mixed-use developments that drive productivity and collaboration. Headquartered in West Conshohocken, PA., its portfolio of projects attracting world-class companies includes 10 million square feet of office and mixed-use properties and spans along the East Coast. Keystone has offices in Philadelphia, PA, Morristown, NJ, and Miami FL.
About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
