{"id":1004234090,"date":"2018-06-08T02:46:50","date_gmt":"2018-06-08T10:46:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004234090"},"modified":"2022-12-09T00:44:59","modified_gmt":"2022-12-09T08:44:59","slug":"keystone-property-to-build-12-story-philly-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/keystone-property-to-build-12-story-philly-office-tower\/","title":{"rendered":"Keystone Property to Build Philly Corporate HQ"},"content":{"rendered":"
\"SORA<\/a>

SORA West in Conshohocken, Pa.<\/p><\/div>\n

Keystone Property Group is developing a new, 427,333-square-foot, mixed-use, transit-oriented office tower at SORA West in Conshohocken, Pa.<\/p>\n

AmerisourceBergen has signed on as the lone office tenant in the 12-story building and will relocate its corporate headquarters\u2014currently housed in Chesterbrook, and a smaller Conshohocken office\u2014to the building when it’s complete. Occupancy is expected to begin in 2020.<\/p>\n

\u201cThe agreement with AmerisourceBergen allows us to develop the project in one phase,\u201d <\/em>Rich Gottlieb, Keystone Property Group\u2019s president & COO, told Commercial Property Executive. \u201cThey will serve as an anchor tenant, which allows us to proceed with construction not just on the building, but the entirety of the SORA West development.\u201d<\/em><\/p>\n

The building will also include ground floor retail space and a bi-level below-grade parking garage. Keystone was named redeveloper of the site in 2013 after an RFP process administered by the Borough and the Montgomery County Redevelopment Authority.<\/p>\n

Creating SORA West<\/strong><\/h2>\n

SORA West, Keystone\u2019s large-scale development centered around a vibrant plaza, will also include a 130-key hotel with numerous restaurants and a rooftop lounge; the existing 139-year-old Conshohocken Firehouse, which will be recreated as a gastropub with an indoor\/outdoor experience; and a 1,200+-space parking structure to support the facilities.<\/p>\n

\u201cThe SORA West development will serve as an anchor for the continued upgrade and development of downtown Conshohocken,\u201d <\/em>Gottlieb said. \u201cWhile providing a new home for AmerisourceBergen, the project will also enable the construction of a public plaza for community gatherings and events, a hotel, restaurants and shops\u2014all of which will contribute to the creation of a vibrant town square for the borough.\u201d<\/em><\/p>\n

A leading pharmaceutical distributor, AmerisourceBergen was recently ranked 12 on the annual Fortune 500 list, with more than $150 billion in annual revenue.<\/p>\n

The property offers convenient connections to Eastern Pennsylvania, including Philadelphia, from the adjacent Conshohocken SEPTA train station. It\u2019s also in close proximity to Routes 76 and 476. According to Gottlieb, downtown Conshohocken has all the components of a highly walkable, vibrant town center that both companies and their workers are seeking today.<\/p>\n

\u201cThe borough offers unparalleled access with a commuter rail stop within just a short walk of SORA West, and a number of nearby highways that offer an easy ride to Philadelphia and other markets,\u201d <\/em>he said. \u201cBy creating a new public plaza and adding new shops, restaurants and other amenities, this development will create even more vibrancy both downtown and along the waterfront.\u201d<\/em><\/p>\n

David Binswanger, president & CEO of Binswanger Cos., represented AmerisourceBergen in the deal.<\/p>\n

Conshohocken has been the center of activity lately. In May, Cabot Properties acquired a 174,400-square-foot warehouse facility for $16.4 million<\/a>.\u00a0In December, FD Stonewater paid $30.6 million to acquire River Park I<\/a>, a 169,163-square-foot office building in the city.<\/p>\n

Image courtesy of Keystone Property Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

SORA West, the transit-oriented development the company is developing in Conshohocken, Pa., is set to become the corporate headquarters of Fortune 500 company AmerisourceBergen.<\/p>\n","protected":false},"author":451,"featured_media":1004234094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21742,10,21747,1494],"tags":[33940,34330,35464],"class_list":["post-1004234090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-latest","category-northeast","category-office","category-philadelphia","tag-binswanger","tag-david-binswanger","tag-keystone-property-group"],"acf":[],"yoast_head":"\nKeystone Property to Build Philly Corporate HQ - 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\/keystone-property-to-build-12-story-philly-office-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Keystone Property to Build Philly Corporate HQ\" \/>\n<meta property=\"og:description\" content=\"SORA West, the transit-oriented development the company is developing in Conshohocken, Pa., is set to become the corporate headquarters of Fortune 500 company AmerisourceBergen.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/keystone-property-to-build-12-story-philly-office-tower\/\" \/>\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=\"2018-06-08T10:46:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:44:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/SORA-West-in-Conshohocken-Pa..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\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\/keystone-property-to-build-12-story-philly-office-tower\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/keystone-property-to-build-12-story-philly-office-tower\/\",\"name\":\"Keystone Property to Build Philly Corporate HQ - 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