After acquiring Spring Mill Corporate Center in Conshohocken two years ago for $81 million, Bryn Mawr-based Alliance HSP has now completed upgrades worth $10 million in an attempt to present the building as an alternative to the more recently constructed Class A office towers on the submarket, writes Natalie Kostelni for the Philadelphia Business Journal.
The 1912 building originally served as a Lee Tire and Rubber factory before being converted into office space in 1987. Alliance HSP decided to make several interior and exterior upgrades while drawing on the building’s past.
“When we acquired the property in April 2019, the real thought we had was that Spring Mill is in an A location and Conshohocken is a very desirable office market and because of its previous uses, it had great creative bones,” said Matt Handel of Alliance HSP.
The company renovated common areas, created lounge and gathering spaces, and added a fitness facility and conference room, among other upgrades.
Now, it hopes to lease a 7,500-square-foot space on the ground floor to a restaurant that will cater both to the building’s tenants and serve as a standalone destination.
Read more about the center at the Philadelphia Business Journal by clicking here.