By Paul Schwedelson – Reporter, Philadelphia Business Journal
LevLane has relocated its Center City headquarters to One Logan Square, departing its longtime home in the Wanamaker building as the troubled office property continues to lose tenants.
After almost two decades at the historic Wanamaker, LevLane joins the growing number of businesses downsizing their space and moving to more attractive office properties following the shift to hybrid and remote work arrangements.
The advertising agency moved into its new offices at One Logan this month after departing the Wanamaker over the summer, reducing its space from 13,914 square feet to 7,373 square feet on a nine-year lease. The firm had been at the Wanamaker since 2004.
The departure is yet another blow to the more than half-vacant Wanamaker, which was placed in receivership in September as debtholders pursue foreclosure on the 1300 Market St. property.
While the price per square foot is higher at Brandywine Realty Trust-owned One Logan, LevLane Chief Creative Officer Bruce Lev said the company's total cost for its new offices is about the same as it was at the Wanamaker. He believes the move into higher-quality space will help entice workers to return to the office.
The firm requires senior leaders to be in the office two to three days a week. LevLane President Josh Lev said the company will likely determine staff-wide office attendance policies in the coming months, but it won’t require in-office work five days a week.
“The need for that much space just wasn’t as severe as it was when we were five days a week,” Josh Lev said. “Being hybrid and being financially cautious in the current situation of the economy, we felt the perfect fit would be to take half the space. … We didn’t really need the old-school office space.”
With less space, LevLane designed its new office in One Logan, which sits along the Benjamin Franklin Parkway at 130 N. 18th St., to focus on collaboration with a coffee bar and barstools, conference rooms for video calls and seating areas that resemble living rooms.
Full story: https://tinyurl.com/3s78kz3f
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.