Source Philadelphia Business Journal Natalie Kostelni
A new owner of a King of Prussia, Pa., office building is launching an overhaul and rebranding of the property.
Roseview Group of Boston bought 211 S. Gulph Road, a 102,204-square-foot property for $21 million last year. It is looking to bring it up to a standard that would let it compete with nearby Class A buildings. It is also hoping the renovations and even a new name will help it attract tech and other creative companies seeking, said Steve G. Corridan, a partner with Roseview.
“If you look across the country, there’s a major shift toward creative office space for the millennials,” he said. “Some of the most important issues that corporate real estate executives are attracting tenants and recruitment and a lot of that has to do with space.”
With that in mind, Roseview is initiating the upgrades.
The real estate company hired D2 Solutions to design the renovations, which will include installing better signage, updating the building’s façade and creating indoor and outdoor communal space. The work also involves rebranding it as “Gear Works,” which is borrowed from Philadelphia Gear, a manufacturing factory that stood next door to the property for years.
Roseview bought the single-story property from O’Neill Properties Group and the Arsenal Fund, which bought it in February 2007 and converted what was an old data center into office space.
Joseph T. Corcoran of the Flynn Co. is overseeing leasing.