Manhattan-based Silverstein Properties and Cantor Fitzgerald are partnering with University Place Associates (UPA), a sustainable commercial development firm based in Philadelphia, to develop, operate and lease 3.0 University Place, a life sciences-enabled building located in Philadelphia’s rapidly growing submarket of University City. Slated to open in the first quarter of 2022, the 250,000-square-foot 3.0 University Place is located in a Qualified Opportunity Zone.
“With more life science companies locating in Philadelphia, this project will greatly impact the industry’s growth in the city,” said Larry A. Silverstein, Chairman of Silverstein Properties. “This partnership offers us an opportunity to impact thousands of lives in a positive way in Philadelphia.”
UPA CEO Scott Mazo said, “With ‘The Wistar Institute’ as one of our lead tenants, 3.0 University Place will be a critical hub for collaborations that support the biomedical research that is solving the most challenging problems in cancer, infectious diseases and vaccine research.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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