Metroplex is growing into a big word in the Plymouth Meeting region.
Brandywine Realty Trust is moving forward with the development of Metroplex Two, an 11-story, 280,000-square-foot office building off Chemical Road in Plymouth Meeting.
The building will join Metroplex One, a five-story, 120,800-square-foot office building that Brandywine built roughly 10 years ago that kicked off the Metroplex Corporate Center. New office space hasn’t been built in some time in Plymouth Meeting. In fact, the time between the construction of Metroplex One and Metroplex Two underscores how demand for suburban office space in some submarkets has ebbed over the years and is now showing renewed signs of interest as rents rise in other submarkets, such as King of Prussia, Radnor and Conshohocken, and space becomes limited, wrties Natalie Kostelni in the Philadelphia Business Journal.
The Plymouth Meeting office submarket totals 2.3 million square feet and has a total vacancy rate of 22.3 percent, according to CBRE Inc.’s third quarter report. No new construction is in progress in the submarket though some buildings throughout the area, including nearby Blue Bell, have been redeveloped. Class A rents are around $32 a square foot in Plymouth Meeting, according to the CBRE data.
The design of Metroplex Two, done by NBBJ of New York, would stand out in an office market that – except for Metroplex One – is generally filled with dated office buildings.
Metroplex Two is sleek, forward looking with floor-to-ceiling windows, loft workspaces and three outdoor terraces that break up what would otherwise be a monolithic box. The building incorporates some of the amenities commonly found at office buildings these days including a variety of common seating areas, firepits, televisions, fitness center, and an outdoor courtyard area called the Lawn.
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