Comcast Spectacor and The Cordish Companies Announce Signature $80 Million Class-A Office Tower in the Heart of the Philadelphia Sports Complex

'Pattison Place' Marks Next Phase of Development Adjacent to Xfinity Live! and Home Venues of Philadelphia's Beloved Professional Sports Franchises

200,000 Square Feet of New Construction, Class-A Office Space Including 20,000 Square Feet of Ground-Floor Retail

Office Tower will Create 1,670 New Jobs and Generate $295 Million in Economic Benefits to the City and State Over a 30-year Period

News provided by

The Cordish Companies

Feb 07, 2019, 11:00 ET

PHILADELPHIA, Feb. 7, 2019 /PRNewswire/ -- Comcast Spectacor and The Cordish Companies announced new details today for Pattison Place, an $80 million, new construction Class-A office tower in the heart of the Philadelphia Sports Complex. Adjacent to Xfinity Live!, Pattison Place will offer an incredible office location amid the home venues of Philadelphia's beloved professional sports teams, and stands in close proximity to The Navy Yard.

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Comcast Spectacor and The Cordish Companies announced new details today for Pattison Place, an $80 million, new construction Class-A office tower in the heart of the Philadelphia Sports Complex. Adjacent to Xfinity Live!, Pattison Place will offer an incredible office location amid the home venues of Philadelphia’s beloved professional sports teams, and stands in close proximity to The Navy Yard. Today's announcement marks the next phase of development for Xfinity Live!.

Ideally located in the heart of the Philadelphia Sports Complex, Pattison Place will be steps away from SEPTA, close proximity to interstates I- 95, I-76 and I-476, and minutes away from both Center City and the Philadelphia International Airport. The tower will create 1,670 new jobs and generate $295 million in economic benefits to the City and State over a 30-year period.

Designed by Beyer Blinder Belle and Philadelphia-based BLT Architects, Pattison Place will offer employees and guests unparalleled, first class amenities including a grand 4,000 square foot lobby with expansive ceiling heights, 20,000 square feet of ground-floor retail, exterior signage, roof decks, fitness facilities, and on-site parking.

Designed by Beyer Blinder Belle and Philadelphia-based BLT Architects, Pattison Place will boast 200,000 square feet of new construction, Class-A office space featuring a grand 4,000 square foot lobby with expansive 35-foot ceiling heights, including 20,000 square feet of premier ground-floor retail. With 12-foot floor-to-ceiling windows, Pattison Place will offer one-of-a-kind panoramic skyline views of downtown Philadelphia, the surrounding Sports Complex and neighboring Navy Yard.

"We're thrilled to partner with The Cordish Companies and launch the next phase of development within the Philadelphia Sports Complex," said Dave Scott, Chairman and CEO, Comcast Spectacor. "Pattison Place presents a unique and compelling opportunity in the Sports Complex and builds on the continued success of Xfinity Live!. We're looking forward to making additional announcements as our growing neighborhood expands in new and exciting directions."

Pattison Place will be within walking distance to SEPTA, close proximity to interstates I- 95, I-76 and I-476, and minutes away from both Center City and the Philadelphia International Airport. The tower will feature unparalleled, first class amenities including exterior signage, roof decks, fitness facilities, and on-site parking.

"It is incredibly exciting for The Cordish Companies to grow our partnership with Comcast Spectacor to deliver a signature, Class-A office tower in the heart of the Philadelphia Sports Complex," stated Blake Cordish, Principal of The Cordish Companies. "Pattison Place will offer first class amenities in an unparalleled location amid Philadelphia's professional sports teams."

Details for Pattison Place arrive at an exciting time as the Wells Fargo Center is in the midst of an extensive, $250 million multi-year transformation. The office tower adds $80 million of new development, complementing the world-class arena and creating a vibrant new construction, Class-A office presence in the heart of Philadelphia's Sports Complex. In addition, Pattison Place will create 1,670 new jobs and generate $295 million in economic benefits to the City and State over a 30-year period.

"We are excited to see this next phase of investment and growth in the Sports Complex by the Comcast Spectacor and Cordish partnership, building on the original vision of a destination complex for sports and entertainment," stated John Grady, President of PIDC, Philadelphia's public-private economic development partnership that has managed investment in the Sports Complex on behalf of the City.

Pattison Place is the first of several announcements for the expansion of Xfinity Live!. Since opening in 2012 in partnership between Comcast Spectacor and The Cordish Companies, Xfinity Live! has been the prominent dining, entertainment and hospitality anchor for the region, dramatically changing the fan experience for Flyers, Eagles, Phillies and 76ers fans, as well as out of town guests. Welcoming millions of visitors a year, Xfinity Live! has energized South Philadelphia and the surrounding sports complex via year-round events and experiences including concerts, festivals, family fun days, community functions, charity events, and watch parties.

For more information, please visit www.pattisonplaceoffices.com.

About Comcast Spectacor
Comcast Spectacor is a professional sports and live entertainment company that is part of Comcast Corporation, a global media and technology leader that operates Comcast Cable, NBCUniversal and Sky. Headquartered in Philadelphia, Comcast Spectacor owns and operates the Wells Fargo Center arena and complex, as well as a portfolio of professional sports teams that includes the National Hockey League's Philadelphia Flyers, the Overwatch League's Philadelphia Fusion, the National Lacrosse League's Philadelphia Wings and the Maine Mariners of the ECHL. Comcast Spectacor also holds strategic interest in several partner companies spanning the sports and entertainment landscape, including Spectra, Learfield, Xfinity Live! Philadelphia and N3rd Street Gamers. Visit us at ComcastSpectacor.com for more information.

About The Cordish Companies
The Cordish Companies' origins date back to 1910 and encompass four generations of privately-held, family ownership. During the past ten decades, The Cordish Companies has grown into a global leader in Commercial Real Estate, Entertainment Districts, Sports-Anchored Developments, Gaming, Hotels, Residential Properties, Restaurants, International Development, Coworking Spaces and Private Equity. One of the largest and most respected developers in the world, The Cordish Companies has been awarded an unprecedented seven Urban Land Institute Awards for Excellence for public-private developments that are of unique significance to the cities in which they are located. The Cordish Companies has developed and operates highly acclaimed dining, entertainment and hospitality destinations throughout the United States, many falling under The Cordish Companies' Live! Brand, highly regarded as one of the premier entertainment brands in the country. Welcoming over 50 million visitors per year, these developments are among the highest profile dining, entertainment, gaming, hotel and sports-anchored destinations in the country. Over the generations, The Cordish Companies has remained true to the family's core values of quality, entrepreneurial spirit, long-term personal relationships and integrity. As a testimony to the long-term vision of its family leadership, The Cordish Companies still owns and manages virtually every business it has created. For more information visit www.cordish.com or follow us on Twitter.

"The Cordish Companies," "The Cordish Company" and "Cordish" are trademarks used under license by independent corporations, legal liability companies and partnerships ("Cordish Entities"). Each Cordish Entity is a separate, single-purpose legal entity that is solely responsible for its obligations and liabilities. No common operations or financial interdependency, and no intermingling of assets or liabilities of the Cordish Entities exists, or should be deemed to exist, as a result of the potential common reference to multiple independent entities operating under the names "Cordish," "The Cordish Companies" or "The Cordish Company" here or elsewhere.

SOURCE The Cordish Companies