Swiss and Chinese life science companies have leased a 110,000-square-foot lab and flex space building that is currently under construction in Exton’s Eagleview Town Center, writes Paul Schwedelson for the Philadelphia Business Journal.
Medical packaging company Früh Verpackungstechnik AG, based in Fehraltorf, Switzerland, will occupy 63,500 square feet in the new building, while China’s Frontage Laboratories, which provides product development services to companies developing drugs, will move into 46,500 square feet.
According to Hankin Group, Eagleview’s developer, the total cost of the building is $40 million. The terms of the two leases were not disclosed.
Früh is planning to create several hundred new jobs at the Eagleview site, said Chief Sales and Marketing Officer Thomas Good.
“We are following the customers’ voice,” he said. “We already do business in significant numbers with the American market. Customers have asked why not provide the service for medical devices in the U.S.?”
Hankin Group plans to have the first phase of the building ready in the fall of 2023 for Früh, with it becoming operational by the end of 2023 or early 2024. Frontage’s phase of the building will be finalized in the second quarter of 2024.
Read more about Eagleview Town Center in the Philadelphia Business Journal.
Philadelphia Business Journal article
Swiss and Chinese companies have signed long-term leases to occupy a 110,000-square-foot lab and flex space building under construction in Exton’s Eagleview development.
Früh Verpackungstechnik AG, a medical packaging company based in Fehraltorf, Switzerland, will lease 63,500 square feet in the new building. China’s Frontage Laboratories, which already leases space in Eagleview, signed to lease another 46,500 square feet in the same future building. Frontage provides product development services to companies developing drugs.
Hankin Group, Eagleview’s developer, said the total cost of the building is $40 million. The companies declined to share terms of the two leases. The building is at 240 Sierra Drive.
Früh plans to employ “a few hundred” people at its the site with most being newly created jobs, Chief Sales and Marketing Officer Thomas Good said from Switzerland in a phone interview.
“We are following the customers’ voice,” Good said. “We already do business in significant numbers with the American market. Customers have asked why not provide the service for medical devices in the U.S.?”
Früh, which has locations in Switzerland and China, considered an American expansion before the Covid-19 pandemic. The company’s search slowed temporarily before choosing between locations in Illinois, Massachusetts and Pennsylvania.
Früh’s analysis found Massachusetts offered the highest educated workforce but also the most expensive. Among the three, salaries were lowest in Illinois but Good said that came with disadvantages. The Philadelphia area offered the most complete package, he said.
Upon arriving to the Eagleview site and exiting the car, “My first impression was, ‘We have found it,’” Good said.
Hankin Group aims to have the first phase of the new building ready for Früh in the fall of 2023, COO Michael Hankin said. Receiving required certifications could take a few months, Good said, so the site would then be operational by the end of 2023 or early 2024.
Good cited similarities in lifestyle between Zurich and the Philadelphia area and similarities between Früh and Hankin Group, both family-owned companies. That helped establish trust as Früh chose where to expand.
“This is a very, very exciting journey we have in front of us,” Good said. “We believe very strongly in the U.S. market.”
Frontage’s phase of the building is planned to be completed in the second quarter of 2024. Frontage already leases 80,000 square feet from Hankin and has been a tenant since 2010. It plans to hire 90 employees to support the expansion.
The two international companies signing on represents the continued boom in life sciences in the Philadelphia region.
“Eagleview, in particular, for the suburbs, continues to be incredibly strong and very sought after,” Hankin said. “I think the reason why is because Eagleview, unlike some other corporate parks, provides a truly mixed-use experience for the employees.”
Eagleview has 1.3 million square feet of research and development space. Hankin Group owns and manages about 750,000 square feet of that, which has an occupancy rate of 99% as of the 240 Sierra Drive lease signings, according to the company. Retail space and apartments are each 95% full and office space is 85%.
Hankin’s Commercial Leasing Manager Sam Sherrill said the company has about a million more square feet that could be developed for commercial space.
“We are able to shift pretty quickly to where the market’s pointing to and right now it seems to be pointing more toward life sciences than other things like office,” Sherrill said. “So that’s what we’re going to be trying to accomplish.”
Exton developer, Hankin Group held a groundbreaking ceremony for the new Phoenixville Senior Housing project on Tuesday, Nov. 1. Hankin Group welcomed project partners, as well as regional and city community leaders to celebrate the commencement of construction on Hankin Group’s newest development project, a 50-unit affordable senior housing building located in the Borough of Phoenixville.
The Phoenixville Senior Housing project will repurpose the former borough maintenance property into a state-of-the-art 50-unit affordable senior housing community with a focus on healthy lifestyles. In support of the project, the Borough of Phoenixville has donated the property located at the intersection of Buchanan and Morgan Streets.
“Phoenixville Senior Housing began with a vision from the Borough to find the best way to meet the housing needs of their community,” said Bob Hankin, CEO of Hankin Group, “The architecture of the building has been designed to knit into the fabric of historic Phoenixville and energize the surrounding neighborhoods by incorporating pedestrian-friendly environments and beautiful streetscapes. The inside is designed to Enterprise Green Communities standards. This will ensure high-efficiency systems and low utility expenses.”
Phoenixville, a historic river town with a long-time resident base, has experienced an urban rebound like few other towns in the Philadelphia area. The borough’s success has produced unintended consequences of growth. The housing demand in Phoenixville is high and affordable housing options are dwindling. In 2017, the borough created an Affordable Housing Task Force to address limited affordable housing options in the Phoenixville area.
“With rising housing prices, and continued pressure of redevelopment, Phoenixville Borough Council sought to find solutions that would allow our seniors to affordably stay in the borough, within their community, amongst their family and neighbors, in vibrant walkable downtown, said Jonathan Ewald, Borough Council President, “Partnering with the Hankin Group and with the support from Chester County and PHFA, this project represents the best long-term use, an overall community benefit, and a true public, private partnership.”
To tackle the growing issue of housing costs outpacing income, the Phoenixville Senior Housing project was created with full support and effort made by multiple organizations. Phoenixville Senior Housing is provided in joint venture by Hankin Group, PA Housing Finance Agency, Borough of Phoenixville, Chester County Department of Community Development, Key Bank and Phoenixville Federal Bank. KeyBank’s Community Development Lending and Investment (CDLI) group helped finance the construction of the Phoenixville Senior Housing with a Low Income Housing Tax Credit Investment (LIHTC).
“A range of housing options available across all incomes is a cornerstone for a healthy community, and developments like Phoenixville Senior Housing are crucial,” said Chester County Commissioners’ Chair Marian Moskowitz.
County Commissioner Michelle Kichline added, “The county is pleased to contribute to the creation of places like Phoenixville Senior Housing… we want everyone to have options to remain a part of this community that we all love.”
Phoenixville Senior Housing is designed to encourage interaction between residents and the wider community through its physical design and community partnerships. The development will include accessible units and access to group activity, community, and fitness rooms. A supportive services office will monitor and counsel the tenants on a variety of healthy lifestyle topics. Hankin Group has entered MOUs with Health Care Access, the Clinic and Phoenixville Hospital to administer healthcare-related services to increase the knowledge, self-care, and awareness of the mental, emotional, physical, social, and spiritual aspects of health in the residents through healthy eating, exercise, disease management, referrals to specialized health resources, and defined healthcare services plans.
“Our senior citizens helped build the towns and boroughs that we call home today. So, it’s only right they have a place of their own in the heart of Phoenixville and get to share in its success as a thriving destination and a safe, healthy, walkable community,” said state Senator Carolyn Comitta. “This project has been a long time coming, but teamwork and persistence paid off. I want to thank all our partners who worked together to get us to this point, and I look forward to the building’s opening.”
Kinetic Physical Therapy has officially opened its doors at 640 Rice Boulevard in Hankin Group’s Eagleview Town Center. Clinic director, Dr. Gabe Kresge, and his team are now offering personalized physical therapy sessions, powerlifting classes, and private assisted stretch sessions. Call 610-424-1100 or visit online to schedule an initial consultation.
Kinetic Physical Therapy’s team of doctors provide personalized physical therapy care to patients experiencing pain, dealing with acute injury, or recovering from surgery.
In addition to physical therapy services, the Eagleview clinic provides powerlifting classes and private assisted stretch sessions. Their powerlifting class, Freedom Barbell, is available for most ages. Classes are currently Monday, Tuesday, and Thursday mornings from 8—9AM. The first introductory class is free, and walk-ins are welcome.
Kinetic STRETCH is a one-on-one assisted stretching session. For questions about either program, email Dr. Gabe Kresge at gabek@kineticptpa.com or call 610-424-1100.