The Design Center inked a deal for 48k SF as the first corporate tenant at National Real Estate Development's East Market project at 34 S 11th St.
National Real Estate Development managing director Daniel Killinger tells us that as creative new space East Market has a distinct edge in attracting Millennials and the companies that employ them. "East Market will be a place for the young creatives who value design and originality," he notes. The Design Center, which has been at 2400 Market St for 30 years, is a group of independent showrooms, offering interior design professionals access to furniture, fabrics, lighting and accessories.
34 S 11th St, formerly Snellenburg’s warehouse, is being transformed into collaborative office space featuring large open floor plates, high ceilings and full height windows, and will be open in about a year. East Market also recently secured a $38.5M loan from Wells Fargo for continued construction of the building, which Daniel calls an indication of further confidence in the city’s demand for creative office space. SSH Real Estate, a part owner along with National, JOSS Realty Partners and Young Capital, repped the owners. The Design Center was repped by James Egan, Matthew Guerrieri and Jeffrey Tertel of Newmark Grubb Knight Frank. BLT Architects is the architect of record for the project.
