1200 Intrepid Avenue

Two Lease Agreements Bring Ensemble Real Estate Investments’ Occupancy at the Navy Yard to 99%

PRESS RELEASE

12.20.2021

PHILADELPHIA – December 20, 2021 – Ensemble Real Estate Investments has signed leases with Gilbane Building Company and Ghost Robotics Corporation for a total of 25,718 square feet at the Navy Yard in Philadelphia. The agreements bring Ensemble’s total office space leased at the Navy Yard in 2021 to 76,000 square feet and raises the company’s occupancy rate at the campus to 99%.

“The Navy Yard appeals to companies in all phases of business from innovative start-ups to well-established national entities, as exemplified by our two newest tenants,” said Mark Seltzer, Senior Vice President, Development-East for Ensemble. “Even near full occupancy, we were pleased to be able to satisfy the needs of both Ghost Robotics and Gilbane Building Company.”

He continued, “This year brought with it a unique set challenges that compelled employers to contemplate how they will create an environment to engage and attract their workforce.   With companies focused on the health and wellness of their employees, tenants like the idea of being able to drive to work, free parking, an abundance of open park space and residing in a LEED certified building. As demand for space at the Navy Yard remains strong, we have our sights set on further expanding our portfolio through future development projects set to begin as early as January 2022.”

Gilbane Building Company has taken 16,655 square feet of space at 1200 Intrepid Avenue. The new tenant provides global integrated construction and facility management services and is responsible for many of the region’s largest projects, including some at the Navy Yard. Gilbane’s special projects group will lead the tenant fit-out of their space, with L2P as the architect. The tenant plans to take possession of the space in Spring 2022. Alex Breitmayer and Ashley Parillo of JLL represented Ensemble while Tony Rossi of CBRE represented the tenant.

“Our move to the Navy Yard is an investment in the growth of Philadelphia,” said Shawn Carlin, vice president and Gilbane’s Philadelphia business unit leader. “We’re excited to be part of the transformation of the campus and believe this new office space will help us attract some of the best talent in the industry. Having the ability to not only partner in the development of Philadelphia’s hottest neighborhood, but to also anchor our operations right in the middle of it is truly special.”

The building at 1200 Intrepid Avenue, which is fully leased and both LEED Gold and Energy Star certified, was designed by world-renowned Danish architecture firm Bjarke Ingels Group. It offers 92,000 square feet of Class A office space oriented around the Navy Yard’s Central Green park. In 2022, the property will also become home to national drugstore chain Rite Aid’s enterprise headquarters.

At nearby 150 Rouse Boulevard, Ghost Robotics Corporation, a cutting-edge developer of Q-UGVs (Quadrupedal Unmanned Ground Vehicles), will occupy 9,063 square feet of space. The company was founded at Pennovation Center and has since been contracted to build robots for many of the world’s largest companies. Ghost Robotics is slated to occupy its space beginning Spring of 2022. Alex Breitmayer and Ashley Parillo of JLL represented Ensemble.

“Ghost is delighted to call the Navy Yard our future home,” said Jiren Parikh CEO of Ghost Robotics. “The expansive location gives us base to continue growing our operations for the foreseeable future, and attract and retain top R&D talent in Philadelphia. And, it goes without saying that the open space is perfect to run our legged robots.”

The property, which is LEED Gold and Energy Star certified, includes 56,421 square feet of Class A office space and is home to the Ensemble’s East Coast operations. Ensemble also welcomed a new tenant to the building. Full Bloom, recently moved into a 10,633 square foot office space at 150 Rouse Boulevard.

Ensemble is the largest private landlord at the Navy Yard with a portfolio that includes life science, hotel and office properties. To date, the company has developed, acquired, or is in development of 14 properties totaling 1.3 million square feet.

As part of Ensemble/Mosaic, a joint venture between Ensemble and Mosaic Development Partners, the company is the master developer of an additional 109-acre mixed-use development at the Navy Yard.  In 2022, the partnership will begin to execute its $2.5 billion development plan starting with a 100,000 square foot speculative laboratory and office development at 1201 Normandy Place. Ensemble/Mosaic ultimately envisions approximately 3,000 residential units and nearly three million square feet of life science manufacturing, R&D, office, hotels, makerspace and retail space when complete.

 

About the Navy Yard

The Navy Yard is home to nearly 15,000 employees and 150 employers occupying 7.5 million square feet of office, retail, industrial, R&D, and institutional space. Major employers include Urban Outfitters (headquarters), Jefferson Health, WuXi Advanced Therapies, Iovance, Biotherapeutics, Adaptimmune, Axalta’s Global Innovation Center, as well as critical U.S. Navy engineering centers, technology startups and a Penn State University Campus. The Navy Yard benefits from access to a large, diverse talent pool, Philadelphia International Airport and Interstates 95, 76 and 476. Amenities include restaurants and cafes, a riverfront greenway, free shuttle access, bikeshare and 20 acres of open green space. The collaborative community benefits from health and wellness programs, rotating public art installations and curated food trucks, and hosts a variety of food, fitness, and philanthropic events in its parks. For more information about the Navy Yard, visit www.navyyard.org and follow on Twitter at @NavyYardPhila.

About Ensemble Real Estate Investments

Over the past 40 years, Ensemble has successfully invested and developed more than $2 billion in real estate across the United States, offering state-of-the-art property solutions in the healthcare/life science, hospitality, commercial, multi-family and mixed-use sectors. A widely respected leader in its industry, Ensemble has revolutionized the art of master planning, delivering iconic and strategically engineered facilities and beautifully preserved historic buildings—all designed to transform and inspire the communities they serve. Headquartered in Long Beach, California, Ensemble has offices in Philadelphia, Phoenix, Las Vegas, and Reno. For more information, visit www.ensemble.net.

 

 

General Contact: Mark Seltzer, Ensemble, 215.779.0101

Media Contact:    Jen Meyer, a.s.a.p.r. 201.914.9957

 

 

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