X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHILADELPHIA-Mothers Work, now the nation’s largest maternity apparel retailer, expands beyond Center City with a lease for 63,500 sf at the Philadelphia Naval Business Center. The center, which matches all of Center City in size, is owned and developed by Philadelphia Industrial Development Corp.

Brokers tell GlobeSt.com the average rental rate for industrial space at the center is approximately $4 per sf.

PIDC provided Mothers Work with $2 million in financing for renovation of its space in the 70,319-sf Building 990 at PNBC. John Grady, senior vice president of PIDC, tells GlobeSt.com the loan consists of a $1-million PIDC economic conversion loan and a $1-million US Department of Housing and Urban Development 108 loan.

Mothers Work has outgrown its owned, 318,000-sf headquarters and manufacturing facility at North Fifth Street in Philadelphia. It will move some of its manufacturing operation to PNBC and boost employment there initially by 51 jobs with a projected expansion to 100 employees in the new location.

Mothers Work operates 750 stores and leases 133 boutiques at other retail sites nationwide. Brands include Mimi Maternity, A Pea in the Pod, Motherhood Maternity, and iMaternity. The company had sales of $388 million in its most recent fiscal year and projects sales of $482 million in 2003.

PIDC is a private, not-for-profit corporation, created in 1958 by the Greater Philadelphia Chamber of Commerce and the city’s commerce department to promote economicdevelopment and job creation throughout the city.

PNBC, located at the southern tip of the city, contains 6 million sf of space in existing buildings. Grady tells GlobeSt.com 48 companies have located there, occupying approximately 65% of the available space in existing buildings. New buildings, totaling 4 million sf, are planned.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.