CBRE Arranges Office Lease for Gilbane Building Company’s Relocation to Philadelphia’s Navy Yard
07 Apr 2022
CBRE announced today it has arranged a 16,655 sq. ft. office lease for Providence, Rhode Island-based Gilbane Building Company, a national construction and facility management company, at the Navy Yard Corporate Center located at 1200 Intrepid Avenue in Philadelphia.
CBRE’s Tony Rossi and Richard Levine represented Gilbane during the lease negotiations. Gilbane relocated from the Wanamaker Building in Center City where it has been a tenant since 1996.
“Gilbane is expanding their office footprint from 10,722 sq. ft. and the Navy Yard Corporate Center is the perfect fit,” stated Rossi, a senior vice president at CBRE. “Gilbane was attracted to the Navy Yard due to its close proximity to many of their projects in the Tri-State Region. The contemporary office features, which include a mix of urban and suburban designs, also appealed to Gilbane.”
Built in 2015, Navy Yard Corporate Center is owned by Ensemble Real Estate Solutions and Investments and is also home to Rite Aid’s new corporate headquarters.
Gilbane moved into their new office space on April 4.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.