New Aramark HQ Building To House Private Social Club With Co-Working
The building, developed by PMC Property Group and Lubert-Adler Real Estate Funds, has signed David Gutstadt to a 75K SF lease for a private leisure and co-working space called Fitler Club, the Philadelphia Inquirer reports.
Fitler Club is meant to be a competitor to startups such as Soho House that combine features from private clubs such as the Union League and millennial-focused elements such as co-working, Gutstadt said at a press event on Thursday. He anticipates spending $50M to $60M on the project, according to the Inquirer.
In addition to co-working, Fitler Club plans to have a fine dining room, fitness centers, event spaces and a first-run movie theater, among other yet-to-be-announced amenities. The club will open in 2019 in parts of the bottom three floors, while Aramark will occupy the top five of nine floors in full. It is a turnaround for PMC and Lubert-Adler, which saw leasing stall at 2400 Market after nabbing Aramark as an anchor tenant and beginning construction.
While the features and design of Fitler Club are meant to appeal to a younger audience, that will not mean a less affluent one — membership fees will be in line with institutions like Soho House, with monthly dues ranging between $250 and $500, according to the Inquirer.
Gutstadt, the son-in-law of Carl Dranoff, previously worked for Lubert-Adler but said he chose 2400 Market based on its location between University City and Comcast headquarters. Among the 75 financial backers he said he has lined up is Admiral Capital Group, owned by NBA Hall of Famer David Robinson. Marc Vetri business associate Jeff Benjamin will run the food and beverage operation, with Kevin Sbraga as executive chef.