CBRE teams with Brandywine Realty Trust for retail portion of $3.5B Schuylkill Yards development
Philadelphia, PA — CBRE has been retained by Brandywine Realty Trust to provide retail advisory and transaction services for its Schuylkill Yards project in Philadelphia. The 14-acre, 6.9 million s/f innovation community is being developed in University City, adjacent to Amtrak's 30th Street Station and Drexel University, the site’s primary ground lessor.
The first phase of the $3.5 billion, multi-year project includes Drexel Square, a 1.3-acre community park at the corner of 30th & Market Streets, opening later this year, and the reimagining of the former Bulletin Building. At full buildout, Schuylkill Yards will be one of the nation's leading large-scale innovation communities, consisting of office, retail, laboratory, residential and hospitality spaces. CBRE is deploying a regional and national team of experienced retail professionals and placemakers to strategically provide Schuylkill Yards the ground-floor vibrancy that will assure long-term success in creating Philadelphia's "Next Great Neighborhood." Using best practices gleaned from other developments worldwide, it will create an inviting, appealing environment designed to attract many first-in-the-market retail, dining and entertainment operations. The national and regional team of CBRE professionals involved in the effort include Steven Gartner, Jeffrey Cohen, Lisa Stoddard, Mallory Scaccetti, Todd Caruso and Rija Beares. According to Steven Gartner, CBRE's managing director of retail services, "Brandywine’s Schuylkill Yards will be a world-class development, one of the most prominent and visible in the country. Its location is situated among the finest higher education and medical institutions in the nation, and is adjacent to the region's major transportation hub. We look forward to advising Brandywine and other team members to create a lifestyle environment that is more than just brains and trains. Through thoughtful placemaking, design, and lively ground floor activity, Schuylkill Yards will be a groundbreaking, dynamic, 24-hour community."