{"id":1004669654,"date":"2023-06-27T13:59:12","date_gmt":"2023-06-27T21:59:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004669654"},"modified":"2023-06-28T05:31:33","modified_gmt":"2023-06-28T13:31:33","slug":"iron-stone-completes-philadelphia-life-science-redevelopment-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/iron-stone-completes-philadelphia-life-science-redevelopment-project\/","title":{"rendered":"Iron Stone Wraps Up Philadelphia Life Science Revamp"},"content":{"rendered":"\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1315\" height=\"851\" alt=\"Rendering of Race Street Labs. All image courtesy of Cushman &amp; Wakefield\" class=\"wp-block-jetpack-slideshow_image wp-image-1004670027\" data-id=\"1004670027\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-3.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-3.jpg 1315w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-3.jpg?resize=300,194 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-3.jpg?resize=768,497 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-3.jpg?resize=1024,663 1024w\" sizes=\"(max-width: 1315px) 100vw, 1315px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Rendering of Race Street Labs. All image courtesy of Cushman &#038; Wakefield<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1513\" height=\"851\" alt=\"Rendering of Race Street Labs. All image courtesy of Cushman &amp; Wakefield\" class=\"wp-block-jetpack-slideshow_image wp-image-1004670025\" data-id=\"1004670025\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-1.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-1.jpg 1513w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-1.jpg?resize=300,169 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-1.jpg?resize=768,432 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-1.jpg?resize=1024,576 1024w\" sizes=\"(max-width: 1513px) 100vw, 1513px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Rendering of Race Street Labs<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1135\" height=\"851\" alt=\"Rendering of Race Street Labs. All image courtesy of Cushman &amp; Wakefield\" class=\"wp-block-jetpack-slideshow_image wp-image-1004670026\" data-id=\"1004670026\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-2.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-2.jpg 1135w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-2.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-2.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-2.jpg?resize=1024,768 1024w\" sizes=\"(max-width: 1135px) 100vw, 1135px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Rendering of Race Street Labs<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1086\" height=\"814\" alt=\"Rendering of Race Street Labs. All image courtesy of Cushman &amp; Wakefield\" class=\"wp-block-jetpack-slideshow_image wp-image-1004670029\" data-id=\"1004670029\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-4-e1687958599370.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-4-e1687958599370.jpg 1086w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-4-e1687958599370.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-4-e1687958599370.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/race-street-labs-4-e1687958599370.jpg?resize=1024,768 1024w\" sizes=\"(max-width: 1086px) 100vw, 1086px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Rendering of Race Street Labs<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n<p><strong>Iron Stone Real Estate Partners<\/strong> has completed the renovation of 180,000 square feet of space at Race Street Labs, a life science facility in Philadelphia. The site comprises two floors at the approximately 600,000-square-foot property. Both floors offer lab facilities. <strong>Cushman &amp; Wakefield<\/strong> is marketing leases for the space.<\/p>\n<p>Race Street Labs, located at 1421 Race St., has 580,000 square feet already leased. The newly upgraded space being marketed includes 13 floors of customizable built-in lab and office space, two full floors of speculative suites, HVAC climate systems, a backup generator, waste risers and circulating water facilities. Common-area amenities include security services, a ground-floor lounge area, conference rooms, food services, indoor bicycle storage facilities, shower and changing rooms, on-site lab management services and ample parking space.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/exploring-redevelopment-opportunities-within-life-sciences\/\">Exploring Redevelopment Opportunities Within Life Sciences<\/a><\/p>\n<hr>\n<p>The upgraded asset is in Philadelphia&#8217;s Center City, near multiple subway and bus stations and close to the Philadelphia Convention Center, the University of Pennsylvania and Drexel University College of Medicine. The property is 11 miles from Philadelphia International Airport.<\/p>\n<p>Cushman &amp; Wakefield\u2019s Paul Garvey and Brian Young are the leasing brokers in charge of marketing the property. The facility is one of the few purpose-built life science facilities in Philadelphia.<\/p>\n<h2>A life science boom in Philadelphia<\/h2>\n<p>Philadelphia is a <a href=\"https:\/\/www.commercialsearch.com\/news\/is-a-life-science-real-estate-bubble-forming\/\">rising life science leader<\/a>. Other life science projects underway in Philadelphia include Breakthrough Properties&#8217; 223,000-square-foot project, also in the Center City district. Corebridge Financial <a href=\"https:\/\/www.commercialsearch.com\/news\/breakthrough-properties-lands-130m-for-philadelphia-project\/\">provided $130 million<\/a> in construction financing for 2300 Market by Breakthrough, which is expected to deliver in the summer of 2024.<\/p>\n<p>In February, SkyREM announced plans to build a $250 million mixed-use project on the city&#8217;s historic Quartermaster site. Those plans include <a href=\"https:\/\/www.commercialsearch.com\/news\/philadelphia-historic-property-to-become-250m-life-science-campus\/\">1 million square feet of dry and wet lab<\/a> space for bio-manufacturing and R&amp;D companies.<\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>The 180,000-square-foot area of upgraded lab space is up for lease.<\/p>\n","protected":false},"author":2991,"featured_media":1004670029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,11,21742,21747,1494],"tags":[32799],"class_list":["post-1004669654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-midatlantic","category-latest","category-office","category-philadelphia","tag-cushman-wakefield"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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