Conshohocken Project a Bright Spot Among Keystone Property Group’s Suburban Properties
Keystone Property Group’s $325 million project in Conshohocken known as Sora West is the company’s highlight among its suburban properties, writes Jacob Adelman for The Philadelphia Inquirer.
The Conshohocken-based company’s suburban office spaces have been negatively affected by the coronavirus pandemic, as a growing number of businesses move to reduce or completely do away with office space at the market’s lower end and gradually shift towards the City Center.
Still, the situation is not currently alarming, as Keystone said its suburban properties are currently 90 percent occupied, with 98 percent of tenants continuing to pay their rent during the pandemic.
Also, some experts believe that concerns regarding working and commuting in dense urban areas as the pandemic continues could reverse the current trend and cause some of the companies to look toward suburbs once again.
The company’s positive outlook is being backed by the Sora West project. This is its first ground-up project and is now nearing completion. The building will be the new headquarters for AmerisourceBergen after the pharmaceutical giant consolidates its staff there from its offices in the Chesterbrook Corporate Center in Wayne and elsewhere in Conshohocken.
Read more about Keystone Property Group at The Philadelphia Inquirer by clicking here.
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