AREP, partners break ground on Seven Tower Bridge in Pennsylvania

WCN Editorial Team 25 Nov 2019 NORTH AMERICA BUILDINGS

American Real Estate Partners (AREP), in partnership with Oliver Tyrone Pulver Corporation (OTP) and global investment manager Partners Group, has broken ground on 14-storey Seven Tower Bridge in Pennsylvania.

Located along the Schuylkill River and at the intersection of I-76, I-476 and the Fayette Street Bridge in Conshohocken, a suburban hub in Philadelphia, Pennsylvania, the 260,000ft² office tower is scheduled to open in November 2020.

The partnership has provided 130,000ft² of the Seven Tower Bridge to global private markets asset management firm Hamilton Lane for lease, which will be effective in 2021.

Conshohocken Borough Council president Colleen Leonard said: “Our community has worked closely with developers, businesses, and citizens to bring smart growth and great prosperity to our borough. We welcome Hamilton Lane and its employees to our community.”

Designed by Skidmore, Owings & Merrill, the tower features a travertine marble lobby along with floor-to-ceiling glass walls, river view collaboration space, and an outdoor patio as well as four floors of underground parking.

Other facilities include riverfront walking paths, a 30-mile bike trail, fitness centre, bike room and two Marriott hotels located near the tower.

Hamilton Lane chief operating officer Kevin Lucey said: “We are excited for our employees to benefit from the many advantages that Conshohocken and our new headquarters have to offer, including the convenient transit options, ease of walkability, diverse restaurant options, and impressive building amenities.”

Furthermore, OTP is planning to lease 4,000ft² of space in the new building and Shoemaker Construction, the building’s general contractor, will lease 5,000ft² in early 2021.

Mesa West Capital and a unit of Morgan Stanley Investment Management are funding the construction of the project.

AREP CEO Doug Fleit said: “Seven Tower Bridge captures the tenant demand for expansion and relocation attracting major financial and technology businesses to Conshohocken, one of Philadelphia’s fastest growing suburbs.”

-----------------------------------------------------------------------------------------------------------------------------------------------------Image: Rendering of Seven Tower Bridge in Pennsylvania. Photo: courtesy of Skidmore, Owings & Merrill.

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