PMHC Makes Big Move in Center City Office Market
The Public Health Management Corporation (PMHC) is moving from its offices at Broad and Locust to 1500 Market next year, taking over five floors of Comcast’s former corporate home. It sounds like the social services city contractor got inspired by GlaxoSmithKline’s latest innovations at the Navy Yard: the new PMHC will use one level of their new office space as a collective workspace with a cafe and gym. But unlike GSK, PMHC is staying downtown, which brings a sigh of relief for those worried about Center City losing its commercial density.
From the Inquirer:
PHMC is among a long line of nonprofits and government agencies taking over what were once prime commercial offices in Center City, where office rents, outside of a few choice properties, have been stuck since the 1980s in the range of $20 per square foot.
Meanwhile, PMHC’s old building, the Atlantic Building, will probably end up as–you guessed it–rental apartments.
• In Philly, big deal for office market [Inquirer]