July 24, 2019
Flexible workspace provider CommonGrounds Workplace is expanding to Philadelphia, signing a long-term lease for 62,461 square feet at 1700 Market in Center City. The workplace is scheduled to open late January 2020.
This is the sixth CommonGrounds lease signed in 2019, as part of the company’s $100-million Series A funding expansion program. The company will build its new space over two floors at the 875,000-square-foot office tower.
“As a former resident of Philadelphia, it is an honor to announce our new location coming to 1700 Market,” said CommonGrounds CEO Jacob Bates. “The Center City location is fantastic, sitting just a few blocks between City Hall and Rittenhouse Square.”
CBRE’s Joseph Wolff, Kevin Maloney, George Cauffman and David Mendez represented 1700 Market’s owner, Shorenstein Company. Jim Suber with Strategic Real Estate Advisory and Michael Gallagher with The Flynn Company represented CommonGrounds in the negotiations.
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