Cordish, Comcast Spectacor plan $80mn office tower
The sports arena complex in South Philadelphia might soon become more businesslike. Comcast Spectacor, a sports and entertainment subsidiary of Comcast, has announced plans to construct a 200,000 squarefeet office tower beside its Xfinity Live! multi-bar complex, the Philadelphia Inquirer reported.
The plot of land is currently a parking lot between the Wells Fargo Center, Lincoln Financial Field and Citizens Bank Park, which among them house all of Philadelphia’s major professional sports teams.
The office building, slated to cost $80 million and be dubbed Pattison Place, will be a joint venture with The Cordish Cos., and include an estimated 20,000 squarefeet of ground-floor retail of its own.
Designed by Beyer Blinder Belle and Philadelphia-based BLT Architects, Pattison Place will be a Class-A office space featuring a grand 4,000sqft lobby with expansive 35ft ceiling heights, including 20,000sqft of premier ground-floor retail, according to several other media reports.
With 12ft floor-to-ceiling windows, Pattison Place will offer one-ofa-kind panoramic skyline views of downtown, the surrounding Philadelphia Sports Complex and neighboring Navy Yard.
Pattison Place will be within walking distance to SEPTA, close proximity to interstates I-95, I-76 and I-476, and minutes away from both Center City and the Philadelphia International Airport. The tower will feature unparalleled, first class amenities including exterior signage, roof decks, fitness facilities and on-site parking.
Comcast Spectacor and Cordish also co-own Xfinity Live!. Comcast Spectacor controls the sizable plot of land on which all three stadiums sit, as well as the Wells Fargo Center and the Philadelphia Flyers. Cordish is also building a casino and hotel, once part of its Live! brand but since renamed, at the north end of the 47-acre plot.
Spectacor already occupies office space in the Wells Fargo Center, which is about to undergo $250 million worth of renovations, and currently does not have any plan to occupy Pattison Place.
It will not break ground on the glassy structure until a suitable amount of pre-leasing has been achieved. Spectacor did not rule out filling the building with other Comcast subsidiaries, according to the Inquirer.
While the three stadiums and Xfinity Live! now are islands dotting an ocean of parking lots, the casino and office plans indicate that Spectacor may have mixed-use dreams for the land that surrounds the southern end of the Broad Street Line.
The company released a video to press and prospective tenants advertising proximity to the nearby Philadelphia International Airport and the Philadelphia Navy Yard, the latter of which runs a shuttle service to the BSL station.
Baltimore-based Cordish is also attempting to develop an arena-adjacent office building near Audi Field, the new home of Washington, D.C.’s MLS team D.C. United.
More details on the project will be revealed at the forthcoming Coliseum Summit US, August 28-29, 2019, in Las Vegas, Nevada.
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