Spring Break
Cira Centre signs additional tenant
Drexel supports Cira Centre in U. City area
Emily Beaulac
Issue date: 3/12/04 Section: News
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The long-term agreement with SCA, a Swedish company that develops, manufactures and markets hygiene products, is relocating its North American headquarters from Eddystone, Pa., to the Cira Centre, according to a press release from Brandywine Realty Trust.
The new company will occupy 75,000 square feet of the building, and along with other tenants, which, according to a Jan. 16 article in The Triangle, will include Dechert L.L.P., Woodcock Washburn L.L.P. and Attalus Capital, will fill 65 percent of the Cira Centre's 690,000 square feet of office space. A Feb. 24 article in the Philadelphia Business Journal stated that the Philadelphia office of Turner Construction Co. signed a $116 million contract with Brandywine Realty Trust to construct the Cira Centre.
Brandywine started the construction of the building in January, and according to the article, plans on finishing by the fourth quarter of 2005.
In addition to office space, the 727,000 square foot building will encompass 37,000 square feet of conference, retail space and amenities, including a health club, restaurants, support retail, a conference center and a direct connection into the retail complex of 30th Street Station.
When the space for the Cira Centre was awarded in 2002, it was designated a Keystone Opportunity Zone, according to a Feb. 27 Inquirer article.
One purpose of a KOZ is to reward a business to offset the risk it takes by occupying space in a building located in a "blighted area," where the government tries to attract investment.
These benefits from the KOZ have caused some controversy and confusion thus far in the community; there is argument as to whether the businesses should receive the rewards. While Drexel has no direct involvement with any aspect of the new Cira Centre building at this time, "Drexel continues to support the addition of the Cira building as it will add to the landscape and business development of University City," Director of New Program Development James Katsaounis said.
