Brandywine Realty Trust
Encyclopedia
Brandywine Realty Trust is a real estate investment trust (REIT) in the United States that buys, sells, leases and manages approximately 225 commercial properties, no more than 25 industrial parcels of land, mixed-use property, and over 200 acre (0.809372 km²) of undeveloped parcels. They also offer construction and development services to other property owners. Founded in 1986, the company is currently headquartered in Radnor, Pennsylvania
and maintains regional operations in Pennsylvania
, Metro DC
, New Jersey
, Richmond
, Delaware
, Texas
, Northern California
, and Southern California
.
In 2006, Brandywine bought out Prentiss Properties Trust for $3.3 billion, more than doubling its holdings. In November 2005, Brandywine opened the Cira Centre
(designed by César Pelli
) next to Philadelphia's 30th Street Station, on land leased from Amtrak
. The second phase of the Cira Centre
project, the $252 million historic rehabilitation of Philadelphia’s 30th Street Post Office, was completed in August 2010 and will serve as the new home of the IRS in Philadelphia. The third phase of the project, Cira Centre South
, is projected to be completed in 2012. During 2010, Brandywine increased its holdings in Center City, Philadelphia
by acquiring the Bell Atlantic Tower
, a 53-story pink-tinged office tower that has since been rebranded as Three Logan Square, and by becoming minority owners of Commerce Square
, two 41-story office towers on Market Street
, along with Thomas Properties Group
.
Radnor, Pennsylvania
Radnor is a wealthy Main Line township. It is an unincorporated community in Radnor Township of Delaware County and Tredyffrin Township of Chester County in the U.S. state of Pennsylvania. It lies near the communities of Villanova and St...
and maintains regional operations in Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
, Metro DC
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
, New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
, Richmond
Richmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...
, Delaware
Delaware
Delaware is a U.S. state located on the Atlantic Coast in the Mid-Atlantic region of the United States. It is bordered to the south and west by Maryland, and to the north by Pennsylvania...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, Northern California
Northern California
Northern California is the northern portion of the U.S. state of California. The San Francisco Bay Area , and Sacramento as well as its metropolitan area are the main population centers...
, and Southern California
Southern California
Southern California is a megaregion, or megapolitan area, in the southern area of the U.S. state of California. Large urban areas include Greater Los Angeles and Greater San Diego. The urban area stretches along the coast from Ventura through the Southland and Inland Empire to San Diego...
.
In 2006, Brandywine bought out Prentiss Properties Trust for $3.3 billion, more than doubling its holdings. In November 2005, Brandywine opened the Cira Centre
Cira Centre
The Cira Centre is a 29-story, office high-rise in the University City district of West Philadelphia, Pennsylvania, United States. Developed by Brandywine Realty Trust and designed by César Pelli, the Cira Centre sits across the street from Amtrak's 30th Street Station...
(designed by César Pelli
César Pelli
César Pelli is an Argentine architect known for designing some of the world's tallest buildings and other major urban landmarks. In 1991, the American Institute of Architects listed Pelli among the ten most influential living American architects...
) next to Philadelphia's 30th Street Station, on land leased from Amtrak
Amtrak
The National Railroad Passenger Corporation, doing business as Amtrak , is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States. "Amtrak" is a portmanteau of the words "America" and "track". It is headquartered at Union...
. The second phase of the Cira Centre
Cira Centre
The Cira Centre is a 29-story, office high-rise in the University City district of West Philadelphia, Pennsylvania, United States. Developed by Brandywine Realty Trust and designed by César Pelli, the Cira Centre sits across the street from Amtrak's 30th Street Station...
project, the $252 million historic rehabilitation of Philadelphia’s 30th Street Post Office, was completed in August 2010 and will serve as the new home of the IRS in Philadelphia. The third phase of the project, Cira Centre South
Cira Centre South
Cira Centre South is a skyscraper currently under construction in the University City district of West Philadelphia, Pennsylvania, which is across the Schuylkill River from Center City Philadelphia. The location of the buildings is between Walnut Street and Chestnut Street south of 30th Street...
, is projected to be completed in 2012. During 2010, Brandywine increased its holdings in Center City, Philadelphia
Center City, Philadelphia
Center City, or Downtown Philadelphia includes the central business district and central neighborhoods of the City of Philadelphia, Pennsylvania, United States. As of 2005, its population of over 88,000 made it the third most populous downtown in the United States, after New York City's and Chicago's...
by acquiring the Bell Atlantic Tower
Bell Atlantic Tower
The Bell Atlantic Tower is a 53-story high-rise located in Philadelphia, Pennsylvania. Height to structural top is 739 ft . The building encloses of office space...
, a 53-story pink-tinged office tower that has since been rebranded as Three Logan Square, and by becoming minority owners of Commerce Square
Commerce Square
Commerce Square is a high-rise office building complex in Center City, Philadelphia, Pennsylvania, United States. Commerce Square consists of One and Two Commerce Square, two identical 41-story office towers high that surround a paved courtyard of...
, two 41-story office towers on Market Street
Market Street (Philadelphia)
Market Street, originally known as High Street, is a major east–west street in Philadelphia, Pennsylvania. For the majority of its length, it serves as Pennsylvania Route 3....
, along with Thomas Properties Group
Thomas Properties Group
Thomas Properties Group is an American real estate company based out of Los Angeles, California. Incorporated on March 9, 2004, they own properties in California, Pennsylvania, Virginia, and Texas....
.
External links
- Hoover's fact sheet
- Yahoo! Finance profile
- excerpts from article GoliathThomson GaleGale is an educational publishing company based in Farmington Hills, Michigan, the United States, in the western suburbs of Detroit. It was part of the Thomson Learning division of the Thomson Corporation, a Canadian company, but became part of Cengage Learning in 2007.The company, formerly known...
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