{"id":1004127689,"date":"2015-09-17T12:12:48","date_gmt":"2015-09-17T20:12:48","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=361170"},"modified":"2021-05-14T19:34:15","modified_gmt":"2021-05-15T03:34:15","slug":"design-hub-coming-to-center-city","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/design-hub-coming-to-center-city\/","title":{"rendered":"Design Hub Coming to Center City"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

National Real Estate Development<\/a> and SSH Real Estate<\/a> have announced that Philadelphia\u2019s former family court building, currently under redevelopment, has landed its first corporate tenant.<\/p>\n

\"East<\/a><\/p>\n

East Market Mixed-Use Development in Philadelphia<\/p>\n<\/div>\n

The Design Center<\/a>, a group of designers and showrooms formerly known as Marketplace Design Center, will lease 48,000 square feet at 34 S. 11th St. in Center City. The group \u2014\u00a0which includes the Baer Collection, Beatrice & Martin, Croce, AK & CO, Harrington Group, Kravet, Pindler & Pindler, Robert Allen and Scalamandre \u2014\u00a0is set to move to the new location by the fall of 2016.<\/p>\n

As a result of the lease agreement, the project\u2019s developers have secured a $38.5 million construction loan from Wells Fargo<\/a> to move forward with the renovation.<\/p>\n

The upcoming Class A, modern office warehouse project is part of the $500 million East Market development. The 4.3-acre mixed-use project will span an entire city block, blending new-to-market retail and dining experiences with contemporary apartments to create a thriving urban destination for locals and tourists. Besides the 34 S. 11th St. renovation, the initial phase of the development encompasses additional buildings along Market Street that are scheduled to open in the summer and fall of 2016.<\/p>\n

East Market is being developed by National Real Estate Development and is owned by National Real Estate Advisors, JOSS Realty Partners LLC, Young Capital LLC and SSH Real Estate.<\/p>\n

\u201cEast Market will be a place for the creatives, innovators and young professionals who value design and originality and want to be in the center of it all. The Design Center showrooms perfectly complement our vision for this historic and transforming section of Philadelphia, and we are delighted to welcome them to East Market,\u201d Daniel Killinger, managing director of National Real Estate Development, said in prepared remarks.<\/p>\n

According to the Philadelphia Business Journal<\/a><\/em>, some of the Design Center retailers have worked out of 2400 Market St., where they are currently located, for 40 years and had been seeking new space for quite a while. They were represented in their search by Jim Egan, an office broker with Newmark Grubb Knight Frank<\/a>, and his colleagues Jeff Tertel and Matt Guerrieri.<\/p>\n

Photo credit: National Real Estate Development<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The retailers that make up the Marketplace Design Center have found a new home in Center City.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1494],"tags":[682],"class_list":["post-1004127689","post","type-post","status-publish","format-standard","hentry","category-latest","category-philadelphia","tag-news"],"acf":[],"yoast_head":"\nDesign Hub Coming to Center City - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/design-hub-coming-to-center-city\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Design Hub Coming to Center City\" \/>\n<meta property=\"og:description\" content=\"The retailers that make up the Marketplace Design Center have found a new home in Center City.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/design-hub-coming-to-center-city\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-17T20:12:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T03:34:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/East-Market-in-Philadelphia.png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/design-hub-coming-to-center-city\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/design-hub-coming-to-center-city\/\",\"name\":\"Design Hub Coming to Center City - 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