American Real Estate Partners (“AREP”), a leading owner and operator of real estate property throughout the Mid-Atlantic, recently announced plans for a comprehensive revitalization and rebranding of 161 Washington Street, formerly known as Eight Tower Bridge.
The structure is a 16-story, 347,000 SF class-A boutique office building designed by world-renowned architect Skidmore, Owings & Merrill. The trophy tower is the tallest office building in Suburban Philadelphia, boasting superior views overlooking the Schuylkill River and ideally situated for easy access to the Main Line suburbs and Center City Philadelphia.
AREP revealed plans for a series of major internal improvements that will transform the overall building experience, including: a fully redesigned lobby complete with green wall; a new, 3rd floor amenity center with food service, conference rooms, casual work space and social lounge; and an overhaul of the 2nd floor gym. All of the work is expected to be complete in 2019.
“161 Washington, which was acquired by AREP and Partners Group as equal partners in October 2018, is already the premier office destination on the Main Line and this year we are taking it to the next level with a curated set of services and amenities that respond directly to the top priorities of tenants in the premier suburban Philadelphia sub-market,” said Paul Schulman, Principal and Chief Operating Officer at AREP. “For AREP, these investments in 161 Washington – and the recent acquisition of 1600 Market – reflect our ambition for growth in the Philadelphia market and across the mid-Atlantic region, with much more to come.”
The renovation is being designed by Meyer, a national architecture and interior design firm based in Ardmore that was recognized by Interior Design as a “Rising Giant” in 2018. Colliers International is the exclusive leasing agent for 161 Washington, represented by John Susanin, Ina Sargen and Kyle Hilbert.