Friday, March 30, 2018

Keystone Property has plans to expand offices near PHL

By Natalie Kostelni  – Reporter, Philadelphia Business Journal
Keystone Property Group is seeking to expand the Airport Business Center, a three-building office complex it owns in Tinicum, Pa.

The developer wants to construct a 428,734-square-foot addition to one of the existing buildings on the property at the intersection of Stevens Drive and Governor Printz Boulevard. The expansion would go on 44.75 acres adjacent to 200 Stevens Drive and next to the existing building. That building is leased to AmeriHealth Caritas, the region’s largest Medicaid managed care organization.

Sources have said the addition would accommodate expansion of the company and enable it to grow to around a total of 700,000 square feet over time. Jawanza Keita, a spokesman for the company, said it doesn’t comment on lease agreements or related matters.

AmeriHealth Caritas already occupies 300,000 square feet at the Airport Business Center. It also occupies another 150,000 square feet at International Plaza, a nearby office complex.

AmeriHealth Caritas is growing. Last October, the Delaware Department of Health indicated that Social Services had awarded one of two Medicaid provider contracts to the Philadelphia-based company. It is owned by Independence Health Group in partnership with Blue Cross Blue Shield of Michigan. The company has more than 5.7 million Medicaid, Medicare and Children’s Health Insurance Program, or CHIP, members in 17 states and the District of Columbia.

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