Drexel eyes Inky building
Caitlin Gray
Issue date: 1/18/08 Section: News
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Most recently, it is looking into buying the historic building that is currently home to The Philadelphia Inquirer, located on 401 N. Broad St.
"With the continuing growth of the University's health sciences enterprise, Drexel is exploring a range of realty options to accommodate and enhance this growth," University spokeswoman Niki Gianakaris said. "These options include 401 N. Broad St. as well as realty opportunities in the surrounding neighborhood."
However, publisher Brian Tierney's secretary said that the rumors were untrue at this time.
"There is no meat to that. It is just a rumor," she said when questioned about the possibility of Drexel buying the Inquirer building.
Rachel Sparrow, the media and public relations director for the University's College of Medicine, said she had no information about the acquisition or how the decision process worked.
"I know there is a rumor out there about it, but I have no information about what is going on. I don't know if there have been any meetings or anything about it. Any information about it would come from University Relations [University city location]," Sparrow said.
Vice President of University Relations Phil Terranova said there was interest in buying new property for the Center City Medical Campus earlier this month.
"We're looking to expand in the general area of the Inquirer building. 400 N. Broad is close to our health and sciences complex, including the College of Medicine and School of Nursing, Allied Health Professionals and Public Health. We have no timetable, but we're exploring options," Terranova told the Courier Post Jan. 5.
Gianakaris said there were no concrete plans for how the building would be used if the University purchased it.
"As part of the University's exploration, it will consider a range of possible future uses in the event that it makes any realty acquisitions," Gianakaris said.
Jones Lang and LaSalle Real Estate Company, which is handling the property, declined comment to The Triangle because all of the brokers and agents were at a conference in Chicago for the week.
According to the Courier Post, the 18-story building includes four acres of land and a parking lot between 15th and 16th Streets on Callowhill Street.
"Built in 1924, it is listed on the city and national registers of historic places and cannot be torn down. Its white facade and beaux-arts tower also cannot be altered," the Courier Post wrote.
The building, which houses philly.com, The Philadelphia Inquirer and the Daily News, is owned by Philadelphia Media Holdings, LLC. Since the printing presses moved to Gulph
Mills, Montgomery County, in the mid 1990s and the with the existence of The Inquirer's Cherry Hill Office, the Philly office is half empty, the realtor told the Courier Post.
Tierney announced in August 2007 that the building was for sale.
Viewing Comments 1 - 1 of 1
RevRagnarok
RevRagnarok
posted 1/18/08 @ 6:12 AM EST
Are you sure on that address? In 1994, I co-op'd at a company that was 401 N. Broad Street and it was across the street from the paper.
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