There is an interesting article on one of the nation’s first corporate centers, In Fort Washington, new life for a historic office park.
In 1955, Philip and Nathan Seltzer broke ground on one of the country’s first business parks, just off the Pennsylvania Turnpike in Fort Washington. At the time, sprawling corporate campuses were thought to be the workplace of the future.
But over the years, the Fort Washington Office Park, like many of its peers, showed its age, struggling to attract and keep tenants, a problem compounded by persistent flooding.
The article has some excellent insights on the changes happening at the corporate center and how it is working to reinvent the property. It can provide some excellent ideas for those looking to invest in older Philadelphia suburban office parks and transform them into, new amenity-rich centers that meet the needs of today’s business owners.
Real estate investors, such as Kairos, have transformed properties like Apex Fort Washington at 600 Office Center Drive into “Class A” properties, attracting new tenants and raising rental rates.
“The park has already attracted Life Time Inc., a 130,000-square-foot high-end health club. Future plans include a work, play, and live community of offices surrounded by restaurants, a hotel, a library, and apartments for 1,200 people.