Aramark, one of the biggest food service companies in the world, is moving its headquarters to 2400 Market St.
The building, which sits on the Schuylkill River across from 30th Street Station, was bought as a joint venture between PMC Property Group and Lubert-Adler Real Estate Funds in 2014 for $42M (including an adjacent parking structure).
The 300k SF structure, which was until recently the home of The Design Center, will be completely renovated to suit its new tenants. Though it stands four stories now, at completion it will have increased to nine stories, with the five new floors comprising another 300k SF, which Aramark will occupy in full.
The bottom four floors will be converted from industrial space into more Class-A office space and 70k SF of ground-floor retail, turning 2400 Market into a larger, mixed-use development.
The second, third and fourth floors will have 225k SF of office space available out of its total 300k, accessible from an open lobby atrium with entrances on the waterfront, as well as Market and Chestnut streets.
Construction on the project started earlier this year, and Aramark employees are expected to move from their current Philly locations—at 1101 Market St and 100 Penn Square East in Center City—by fall 2018.
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