Tuesday, April 9, 2019
Monday, April 8, 2019
Life Time Fitness to add 45,000 square feet, co-working in KoP
By Natalie Kostelni – Reporter, Philadelphia Business Journal
Life Time Fitness Inc. is planning to expand its King of Prussia facility to include its Life Time Work concept.
The Minnesota-based health club chain is proposing to construct a two-story, 45,000-square-foot building that would house co-working space next to its facility on Swedesford Road and Old Eagle School Road. It is also proposing to expand its parking, something that members say is sorely needed at the existing facility.
Earlier this year, Life Time Fitness paid $4.9 million for a 5.38-acre parcel at 750 E. Swedesford Rd. that sits adjacent to its existing King of Prussia property. That is where the company plans to build the addition.
In 2015, Life Time bought 14.5 acres from CertainTeed Corp. and built a $30 million, 150,000-square-foot resort-style Life Time Athletic fitness facility on the site that opened in June 2017. It has attracted hundreds of members and considered a success, according to people familiar with it.
Full story: http://tinyurl.com/y6gldlr9
www.omegare.com
Life Time Fitness Inc. is planning to expand its King of Prussia facility to include its Life Time Work concept.
The Minnesota-based health club chain is proposing to construct a two-story, 45,000-square-foot building that would house co-working space next to its facility on Swedesford Road and Old Eagle School Road. It is also proposing to expand its parking, something that members say is sorely needed at the existing facility.
Earlier this year, Life Time Fitness paid $4.9 million for a 5.38-acre parcel at 750 E. Swedesford Rd. that sits adjacent to its existing King of Prussia property. That is where the company plans to build the addition.
In 2015, Life Time bought 14.5 acres from CertainTeed Corp. and built a $30 million, 150,000-square-foot resort-style Life Time Athletic fitness facility on the site that opened in June 2017. It has attracted hundreds of members and considered a success, according to people familiar with it.
Full story: http://tinyurl.com/y6gldlr9
www.omegare.com
Apartment complex at former Destination Maternity site to break ground
By Natalie Kostelni – Reporter, Philadelphia Business Journal
When Alliance HSP breaks ground at the end of this month on an apartment building at Sono, it will be the culmination of a five-year effort to redevelop the Northern Liberties property.
It will also highlight how much has changed at that corner of the city over that time and the property’s redevelopment is both a reflection and cause of that. The development, called Sono, also evolved, underscoring how initial ideas sometimes don't pan out.
When the Bryn Mawr real estate firm bought the 220,000-square-foot building at 5th and Spring Garden streets for $14 million in the fall of 2014, the company had plans to turn it into creative office space. That idea wasn't embraced by the market but may have been ahead of its time. During that same period, Arts and Crafts Holdings, a Philadelphia real estate company, has been gobbling up properties in and around Sono and a few blocks away, creating an emerging office submarket. Nonetheless, the lack of office activity at the property prompted Alliance HSP to shift gears.
Full story: http://tinyurl.com/y2h2obeb
www.omeagare.com
When Alliance HSP breaks ground at the end of this month on an apartment building at Sono, it will be the culmination of a five-year effort to redevelop the Northern Liberties property.
It will also highlight how much has changed at that corner of the city over that time and the property’s redevelopment is both a reflection and cause of that. The development, called Sono, also evolved, underscoring how initial ideas sometimes don't pan out.
When the Bryn Mawr real estate firm bought the 220,000-square-foot building at 5th and Spring Garden streets for $14 million in the fall of 2014, the company had plans to turn it into creative office space. That idea wasn't embraced by the market but may have been ahead of its time. During that same period, Arts and Crafts Holdings, a Philadelphia real estate company, has been gobbling up properties in and around Sono and a few blocks away, creating an emerging office submarket. Nonetheless, the lack of office activity at the property prompted Alliance HSP to shift gears.
Full story: http://tinyurl.com/y2h2obeb
www.omeagare.com
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