The five-story office building is LEED Silver certified, a recipient of BOMA Building of the Year and offers tenants an outstanding amenity package, including a fitness center with locker rooms, full-service cafeteria, conference center, atrium lobby, walking trail, outdoor patio and covered parking.
The overhaul of the lobby and introduction of amenity floor with food service, conference and social space will anchor a repositioning for Conshohocken's top transit-oriented office property.
The acquisition was partially financed with tax credits from CREA, an Indianapolis-based full-service tax syndicator that specializes in affordable housing, and loan assumptions from the city of Chicago and the Illinois Housing Development Authority.
The new agreement extends United's existing lease to 2033. Blackstone is investing more than $500 million to transform the building from the inside out.