Yesterday a groundbreaking was held for Seven Tower Bridge, a 14-story, 260,000-square-foot office tower scheduled to open in November 2020 just downriver from the Matsonford Bridge in Conshohocken.
The building is being developed by American Real Estate Partners (AREP), Oliver Tyrone Pulver Corporation, and Partners Group. Hamilton Lane, a global private markets asset management firm, will move its corporate headquarters from Bala Cynwyd to Seven Tower Bridge in 2021 and will occupy 130,000 square feet of the building.
“The Borough of Conshohocken is pleased to celebrate the development of the latest Tower Bridge office building,” said Colleen Leonard, president of the Conshohocken Borough Council. “Our community has worked closely with developers, businesses, and citizens to bring smart growth and great prosperity to our borough. We welcome Hamilton Lane and its employees to our community.”
“This groundbreaking marks not only the next step in our partnership with Oliver Tyrone Pulver and Partners Group, but also another opportunity to further support the economic vitality of this region,” said Doug Fleit, CEO of American Real Estate Partners. “Seven Tower Bridge captures the tenant demand for expansion and relocation attracting major financial and technology businesses to Conshohocken, one of Philadelphia’s fastest growing suburbs.”
“Partners Group is excited about our partnership with AREP and Oliver Tyrone Pulver, and welcomes Hamilton Lane as the anchor tenant. This is a fantastic location that provides walkability, access to transit, and a variety of amenities, such as restaurants, shopping, and hotels for our tenants. The venture is an excellent representation of the partnerships and assets that we build in the US real estate market, and we look forward to developing these relationships going forward,” said Ron Lamontagne, Managing Director, Co-Head of Private Real Estate Americas, Partners Group.
The Class A office tower designed by Skidmore, Owings & Merrill features a travertine marble lobby with floor-to-ceiling glass walls, river view collaboration space, and an outdoor patio. Over four levels of underground parking, the first office floor is 50 feet above grade, offering unobstructed views and natural light. Other amenities include riverfront walking paths, a 30-mile bike trail, fitness center, bike room, and two nearby Marriott hotels.
“Seven Tower Bridge is an ideal location for Hamilton Lane’s headquarters, as we continue to grow our employee base and expand the size and scale of our business,” said Kevin Lucey, COO of Hamilton Lane. “We are excited for our employees to benefit from the many advantages that Conshohocken and our new headquarters have to offer, including the convenient transit options, ease of walkability, diverse restaurant options, and impressive building amenities.”
“This is a true celebration for the community,” said Doug Fleit. “Ours is a best-in-class co-development team that understands the demand for quality workspace, architecture, and a sense of place that today’s companies and their employees need.”
“Seven Tower Bridge is a highly anticipated project, delivering a world-class building in the best location in the Philadelphia region,” said Donald Pulver, president of OTP. “Companies like Hamilton Lane recognize that an accessible location, best-in-class amenities, and a well-designed work environment are keys to attracting and retaining today’s top talent.”
Construction financing is provided by Mesa West Capital, LLC, a unit of Morgan Stanley Investment Management.