PHILADELPHIA – July 21, 2023 – Mid Atlantic Retina has signed a long-term lease with Ensemble Investments, LLC (Ensemble) at the Navy Yard in Philadelphia. Mid Atlantic Retina, a nationally and internationally recognized Retina Specialist Surgical practice and the Retina Surgeons of Wills Eye Hospital, will open their newest location in the LEED Platinum certified One Crescent Drive building. Occupancy is anticipated in late Spring of 2024.
The Mid Atlantic Retina physicians stated, “Establishing an office in the Navy Yard is a very exciting prospect. Our practice is experiencing tremendous growth around the region, and we have a large patient base in South Philadelphia and Southern New Jersey. The ease of getting to the office, free parking and this beautiful campus made it a perfect fit and we look forward to serving patients here for years to come.”
Mid Atlantic Retina offers state of the art care across nearly 20 locations in the region. Mid Atlantic Retina Wills Eye Physicians is a Center of Excellence for Age-Related Macular Degeneration and Diabetic Retinopathy. Earlier this year, Mid Atlantic Retina was named the lead center of 60 centers for the first pivotal trial for Wet AMD.
The practice is joining an established medical cluster in the Navy Yard that includes Jefferson Health, Rothman Orthopedics, The Vincera Institute, Philadelphia Hand and Shoulder, Mast Labs and LabCorp, among others.
“Ensemble strives to support the success of medical providers seeking to offer a comfortable and convenient location for their patients at the Navy Yard. There is an influx of medical practices seeking to create a footprint here, and we are thrilled to be able to provide Mid Atlantic Retina, a world-renowned practice, with a long-term solution,” said Nelson Way, Director of Leasing & Development, Ensemble.
The Navy Yard is located at exits off both I-95 and I-76, the region’s major corridors, and less than 10 minutes from Philadelphia International Airport. The Navy Yard Shuttle Service offers connections to public transportation, including regional rail and the subway. This accessibility and ample free parking have made the Navy Yard a landing spot for many medical groups and corporate users.
One Crescent Drive is the first developer-owned LEED Platinum building in Pennsylvania. It was designed by world-renowned architect Robert A.M. Stern and built in 2005. Its sustainable design includes natural light in 90% of the building’s floor area as well as energy efficient lighting, water system and HVAC. The building features a dedicated parking lot and faces the 3.5-acre Crescent Park which offers seating, walking paths and native plants.
The agreement raises Ensemble’s total leased office space at the Navy Yard to 97%. The company is the largest private landlord at the Navy Yard with a portfolio that includes life science, hotel and office properties. Ensemble began developing at the Navy Yard in 2012 and today owns and manages a portfolio of more than 1.3M square feet of space on the campus.
Navy Yard Philadelphia – Philadelphia’s Newest Waterfront Neighborhood
The Navy Yard is home to 150 companies from start up to maturity, with approximately 17,500 employees. The campus boasts six miles of waterfront and 20 acres of greenspace, with free parking and a dedicated transit shuttle service. Existing amenities include a Courtyard by Marriott, several restaurants and the 5-acre Central Green park which features a walking track, TRX system, ping pong and bocce, and ample outdoor work spaces.
During the next 15 years, Ensemble/Mosaic, a joint venture of Ensemble Investments, LLC and Mosaic Development Partners plans to invest more than $4.8B to develop more than 40 buildings. This includes three million square feet of life science space in partnership with investor Oxford Properties Group, plus corporate space and nearly 4,000 residential units.
About Ensemble Investments, LLC
Ensemble Investments, LLC (Ensemble) is a leader in commercial real estate investment, revolutionizing the art of comprehensive planning, development, ownership and management. Established in 1989, the company is headquartered in Long Beach, Ca. with offices in Phoenix and Philadelphia. Among its offerings, it develops, owns and operates life science, corporate office, hospitality, multifamily and retail assets that transform and inspire the communities they serve. For more, visit www.ensemble.net and follow on LinkedIn.
About Mid Atlantic Retina
For more than 50 years, the board-certified retinal physicians and surgeons of Mid Atlantic Retina have been members of the medical staff of Wills Eye Hospital – one of the top eye hospitals in the nation – holding key leadership positions including Ophthalmologist-in-Chief and Director and Co-director of the Retina Service. To learn more about the practice visit www.midatlanticretina.com
General Contact: Nelson Way, Ensemble, 610-506-0631
Media Contact: Robbie Tarpley Raffish, 410-430-9705
