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Comcast Enters Another Philly Land Deal

Comcast confirmed that it has entered a joint venture with Liberty Property Trust on a third real estate agreement in Philadelphia, this one for a parcel at 19th Street and Arch Street, nearby the Comcast Center and the coming Comcast Innovation Technology Center.

A Comcast spokesman said the company currently has no plans for the new parcel, butThe Philadelphia Inquirer reported that there’s speculation that it could become the site of a third Comcast office tower. Comcast already employs 8,000 people in the city of Philadelphia, so a third building could help to accommodate future growth.

Comcast and Liberty Property Trust are also in a J.V. for the Comcast Center and the Comcast Innovation and Tech Center.

Comcast broke ground last summer on the $1.2 billion, 59-story Comcast Innovation and Technology Center, which is expected to be completed by the first quarter of 2018. The 1,121-foot building at 1800 Arch Street will serve Comcast, the local operations of NBC 10/WCAU, Telemundo 62/WWSI, offer space to local tech startups and contain a Four Seasons Hotel.