January 16, 2020
CBRE is teaming with Shorenstein Properties on a rollout of CBRE’s Hana brand of collaborative office space at 1818 Market St. in Philadelphia’s Center City. The 50,000-square-foot space will be the first Northeastern location for Hana, which debuted in Dallas in 2019 and has since rolled out to London.
Hana chief executive Andrew Kupiec told the Philadelphia Inquirer that the brand was drawn to Philadelphia by the city’s growing commercial activity. But the main enticement was the opportunity to collaborate with Shorenstein.
“We’ve looked at this as an opportunity to get in early and work with Shorenstein and expand in their portfolio,” Kupiec said.
Central Philadelphia has about 1.3 million square feet of shared office space, led by WeWork with 194,000 square feet in five locations, according to JLL. Yet, that represents only about 1% of the city’s total office inventory, a far smaller proportion compared to other big markets.
Pictured: A Hana facility in Dallas.
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