The office market in Fort Washington experienced the highest amount of net absorption in the entire Philadelphia region in 2017, according to market statistics published by Jones Lang LaSalle, a global real estate brokerage and investment firm.
In 2017, 214,783 s.f. of office space was absorbed in the Fort Washington office submarket, representing 42 percent of the net gain in all suburban Philadelphia submarkets combined. Thirty-four new leases totaling 274,204 square feet were signed during the year. Businesses opening new locations in Fort Washington last year included: Life Time Athletics (112,000 s.f.), Ashfield Healthcare (85,000 s.f.), Aon Financial and Insurance Solutions (75,000 s.f.), Acclara Solutions (39,000 s.f.), Citizens Bank (38,000 s.f.), Office Practicum (18,000 s.f.) and Kellogg Company (8,000 s.f.), according to a press release from Upper Dublin Township.
New facilities include corporate headquarters, research labs, call center operations and a luxury-brand fitness club, together employing more than 2,000 people across various industries and a broad spectrum of job types. In the public sector, Upper Dublin Township acquired a 56,000 s.f. office building in the Fort Washington Office Park, to serve the public and regional business community.
Supporting this economic expansion, Upper Dublin Township has made significant reinvestment in public infrastructure and transportation improvement, in partnership with Montgomery County and the Commonwealth of Pennsylvania. Grant funding has accounted for 67 percent of the improvement project costs to date.
For more information check out Upper Dublin Township’s website here.