By Paul Schwedelson – Reporter, Philadelphia Business Journal
As Hankin Group opens a new 113,000-square-foot life sciences building to tenants, the developer is planning its next lab building as part of its massive master-planned Eagleview development in Exton.
Hankin Group is scheduled to break ground on a 63,000-square-foot life sciences building this fall at 100 Arrowhead Drive.
The building, dubbed Arrowhead, is sparked by the developer being nearly sold out of existing lab space at Eagleview, said Hankin Group COO Michael Hankin.
Eagleview's 1.1 million square feet of lab space is 98% leased, he said. That’s given Exton-based Hankin Group the confidence to move forward with the project at 100 Arrowhead Drive without tenants signed. Hankin said the firm will soon begin a heavy marketing push of the site to potential users.
Arrowhead is being scheduled to be built as Hankin Group plans a separate $700 million pipeline of five future large-scale, mixed-use multifamily projects. The five multifamily projects could ultimately add up to more than 1,500 new apartments in the next five years between properties in Exton, Downingtown, Lancaster, Downingtown and Gainesville, Florida.
The residential units are planned to be a mix of market rate and senior housing. Hankin is still determining timelines for when the projects could begin.
“We’re identifying where capital markets are and things like that,” Hankin said. “Obviously those are big projects, we want to make sure we identify which ones we think are going to be successful off the jump.”
Full story: https://tinyurl.com/2p99v3a5
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