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Two Coretrust Capital Partners Skyscrapers Reach the Gold Standard of Cleanliness With GBAC STAR Facility Accreditation

Written by SysAdmin on . Posted in Archived News.

[vc_row 0=””][vc_column][vc_column_text 0=””]Coretrust Capital Partners, a real estate investment firm, has achieved GBAC STAR™ Facility Accreditation from the Global Biorisk Advisory Council™, (GBAC), a Division of ISSA, at 2 Liberty Place in Philadelphia and FourFortyFour South Flower in Los Angeles. Additional facilities accredited this week include Edmonton Regional Airport Authority in Edmonton, Alberta; Center for Creative Education in West Palm Beach, Fla.; Hampton Coliseum in Hampton, Va.; hotels around the world; and more.

“As more workers return to offices, they will want to know that their health and safety is being prioritized,” said GBAC Executive Director Patricia Olinger. “Becoming GBAC STAR accredited is one way that organizations can demonstrate to occupants and visitors that their facilities are taking the necessary precautions for today’s challenges.”

By implementing innovative technologies and operational improvements that reduce pathogens by 99.9% at its large office buildings, Coretrust Capital Partners is recognized as the leader in creating smart, safe, and healthy workplaces. Located in the heart of Philadelphia’s Central Business District, 2 Liberty Place is a 57-story office tower designed by world-renowned architect Helmut Jahn. FourFortyFour South Flower is a 48-story glass building that is LEED Gold certified, a BOMA 360 Performance Building, and a 16-time ENERGY STAR Label recipient.

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Coworking operator Industrious plans second Philly location at Two Liberty Place tower

Written by SysAdmin on . Posted in Archived News.

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Industrious, a shared-office operator, plans to open one of Center City’s biggest coworking spaces in the Two Liberty Place tower.

The New York-based company intends to begin operating the 55,000-square-foot space spread across two stories of the tower at 50 S. 16th St. before next spring, it said in a news release Tuesday.

The offices will be central Center City’s third-largest coworking space, after a MakeOffices location at 1635 Market St. and a WeWork branch at 1900 Market St., according to data compiled by commercial real estate firm JLL.

It will be Industrious’ second location, following a nearly 21,000-square-foot space at 230 S. Broad St.

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“Back on My Feet” Treadmill Challenge at Liberty Place on June 7th

Written by SysAdmin on . Posted in Archived News.

[vc_row][vc_column width=”3/4″][vc_column_text]On June 7th, 2 Liberty Place tenant, Cigna, sponsored the “Back on My Feet” Treadmill Challenge event in the Rotunda of the Shops at Liberty Place. Hundreds of participants ran on a circle of ten treadmills that had been installed in the center of the Rotunda. “Back on My Feet” combats homelessness through the power of running, community support, and essential employment and housing resources. Our special thanks goes out to Cigna for sponsoring and hosting this important event.

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Featured in the Philadelphia Business Journal on March 24, 2017

Written by SysAdmin on . Posted in Archived News.

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Managing Principal Randall L. Scott of Coretrust Capital Partners sits down with Philadelphia Business Journal to discuss the $220M purchase of Two Liberty Place Office Condominiums in Center City Philadelphia.  He shares some of his thoughts on real estate deals, business advice, and reflects on past decisions.

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Coretrust Acquires Control of Iconic Two Liberty Place in Philadelphia

Written by SysAdmin on . Posted in Archived News.

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Los Angeles, CA – November 17, 2016 – Coretrust Capital Partners, LLC, through its investment fund, Coretrust Value Fund I, purchased the controlling interests in multiple Two Liberty Place ownership entities. Two Liberty Place, totaling 1.2 million square feet, is an iconic part of the Philadelphia skyline. Designed by Helmut Jahn of Murphy/Jahn Architects, the property is an integral part of Liberty Place, a 3 million square foot mixed use complex. The seller was a partnership advised and led by Parkway Properties, Inc. of Orlando, Florida (NYSE: PKY).

The property is a Trophy Class tower originally constructed as the headquarters for Cigna, which now occupies approximately one third of the office space in the building. Two Liberty, completed in 1990, provides tenants a market-leading amenity package with a full service café, conference facility and professionally- managed fitness center coupled with its immediate adjacency to 145,000 square feet of fashion and consumer retail, a 294-room Westin hotel, 113 luxury condominium units and its companion 1.2 million square foot office tower, One Liberty Place. Coretrust’s ownership will invest in maintaining Two Liberty’s high- end market profile by upgrading common areas with special emphasis on the tenant arrival experience and amenity spaces. Coretrust principal Randall Scott, a longtime Philadelphia resident and downtown office owner, said, “We are very pleased to have this opportunity and look forward to activating our plans to build on the heritage of this outstanding property.”

Coretrust Capital Partners was founded in 2014 by three former executives of Thomas Properties Group, Inc. (NYSE: TPGI). TPGI was a major Philadelphia office owner with a presence of over 4.5 million square feet which included the 2 million square foot Trophy Class I.M. Pei-designed Commerce Square. Coretrust is principally engaged in the acquisition, operation and re-positioning of large office assets through its Coretrust Value Fund I (CVFI), which it co-sponsored with Hawkeye Partners of Austin, TX. CVFI is a $250 million discretionary equity fund that closed in October 2015 with capacity for up to $1 billion of office properties. The firm is actively seeking value-add investment opportunities.

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Featured in the Philadelphia Business Journal on October 28th, 2016

Written by SysAdmin on . Posted in Archived News.

[vc_row columns_type=”medium”][vc_column width=”3/4″][vc_column_text]Philadelphia Business Journal features Two Liberty Place in their October 2016 edition.  Write up includes some of the possible challenges that Coretrust Capital Partners face in regards to their planned series of renovations for the recently purchased office portion of Two Liberty Place.  Multiple ownership structures control various aspects of the building, such as the Residences at Two Liberty, the Shops at Liberty Place, the attached Westin Hotel and the parking garage, complicating the building’s uniformity.  With a possible merger for current tenant Cigna taking place and additional vacant office space available, Coretrust principal Randy Scott has enlisted Joe McManus and Morgan Murray of CBRE Inc. to assist in leasing office space. Randy reflects on the challenges and opportunities of creating a space that unites the tenants of the building while creating a better visitor experience.

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