Source, Philadelphia Business Journal, Natalie Kostelni
Brandywine Realty Trust has leased 500 N. Gulph Road in King of Prussia to CSL Behring.
The biopharmaceutical company leased the 100,820-square-foot building because it needed room for expansion. CSL Behring is an existing tenant of Brandywine and occupies 257,000 square feet of space at 1020 First Ave., which is about a mile away from the Gulph Road building.
In February, Brandywine initiated a $29.7 million redevelopment of 500 N. Gulph. The five-story building has essentially been vacant for years and ripe for redevelopment.
The structure was built in the 1970s and is amid being gutted. It will have a new façade, atriums and amenity spaces as well as about 3,000 square feet of additional office space. As part of the project, Brandywine is also developing a single-story parking deck that will be located on a parcel behind the building and adjacent to the Pennsylvania Turnpike and have 100 spaces. The project should be completed this fall.
CSL Behring maintains its U.S. operations in King of Prussia but is based in Melbourne, Australia.