CONSHOHOCKEN, PA—Oliver Tyrone Pulver Corp. has signed a partnership agreement with American Real Estate Partners and Partners Group to co-develop Seven Tower Bridge, a 14-story, 260,000-square-foot office tower scheduled to open in November 2020 here.

Construction financing will be provided by Mesa West Capital, LLC, a unit of Morgan Stanley Investment Management.

The development team also announced that Hamilton Lane, a global alternative investment management firm, has signed a lease to occupy 130,000 square feet at Seven Tower Bridge beginning in 2021. Construction financing will be provided by Mesa West Capital, LLC, a unit of Morgan Stanley Investment Management.

"We are pleased to deliver a new office building to provide the location and urban-quality office environment that leading companies require to attract and retain the region's top talent," says Donald Pulver, president of Oliver Tyrone Pulver Co.

"This partnership brings together two of the region's very best developers and investors to deliver the finest new trophy office tower available in Philadelphia," says Brian Katz, president of AREP, which also owns the 345,000 square-foot Eight Tower Bridge on the adjacent site. "There are few suburban locations that deliver the transit, amenities, quality, walkability, and livability as Conshohocken."

Hamilton Lane will occupy the top five floors of Seven Tower Bridge and the tower's penthouse will feature the Hamilton Lane logo.

Chris Lange and David Fahey of Avison Young and Eric Stern and Kevin Delaney of Morgan Lewis & Bockius LLP represented Hamilton Lane on its lease and Esther Pulver of OTP, in conjunction with Ken Kearns of Cadence Real Estate Advisors and David Scolnic of Hangley Aronchick Segal Pudlin & Schiller represented the landlord.

Seven Tower Bridge will feature floor-to-ceiling glass walls, travertine marble lobby, riverview collaboration space, an outdoor patio and terrace, riverfront walking path, 30-mile bike trail, fitness center, bike room, cafe and two nearby Marriott hotels. Four levels of under-building parking lift the first office floor up to 50 feet above grade.

"With 121,000 square feet of prime riverfront space left in the building and very little Class A office availability or pipeline in the Conshohocken market, we expect the building to lease up quickly," said Esther Pulver, vice president of leasing for OTP.

Limited development activity over the past decade and strong demand for newer-generation Class A space has kept vacancy rates in Philadelphia's transit-oriented premier suburbs under 10%.

OTP will lease 4,000 square feet of space in the new building, and will be the on-site owner-manager at the property. Shoemaker Construction, the building's general contractor, will lease 5,000 square feet at the building.

Instant Insights /

New Partnership to Build Seven Tower Bridge in Conshohocken

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