April 13, 2022
Global leader in lighting solutions enters “blue chip” suburban Philadelphia business destination
(CONSHOHOCKEN, Pa.– April 13, 2022) – American Real Estate Partners (AREP), Partners Group, a leading global private markets firm, acting on behalf of its clients, and Oliver Tyrone Pulver Corporation (OTP) have secured a new tenant for Seven Tower Bridge, a Class A office tower that transforms the post-pandemic workplace with flexibility, productivity, and inspired wellness-focused design. Lutron Electronics, the leader in lighting and shading control solutions and intelligent lighting fixtures, will occupy 27,000 square feet in the Philadelphia region’s blue-chip business destination of Conshohocken.
“Lutron is excited to expand its presence in the region,” said Lutron President Ed Blair. “Seven Tower Bridge offers a sustainable and flexible waterfront work environment for our employees and is the perfect venue to showcase our lighting and shading control solutions for customers and visitors alike,” he said.
Seven Tower Bridge is distinguished by its striking architectural design by Skidmore, Owings & Merrill (SOM), including nine-foot windows on office floors and a two-story formal lobby surrounded by glass walls and white Texas Shell limestone. The design incorporates key factors identified by the World Green Building Council and extensive scientific research that support health, satisfaction, and productivity—maximum natural light, scenic views, green space/biophilia, fresh air, walkable amenities, and effective climate control. The building also satisfies post-pandemic priorities by offering large, column-free floorplates supporting the design of flexible office spaces, and features spacious, Wi-Fi enabled indoor and outdoor common areas to facilitate socialization and collaboration in the new hybrid work environment. Just outside the doors are the 40-mile Schuylkill River bike trail, riverfront walking paths, 40+ boutique dining destinations, and the new SEPTA regional rail station serving Center City.
“As companies rethink how they work, Seven Tower Bridge reinvents the corporate workplace to drive performance and support wellness, innovation and inspiration,” said Doug Fleit, Principal and CEO of AREP. “With our partners and designers, we have carefully curated a unique combination of amenities, technology and health and wellness features to deliver a flexible and desirable work environment for today and the future.”
In keeping with AREP’s relentless focus on health and wellness, Seven Tower Bridge was among the first buildings to receive the UL Verified Healthy Building for Indoor Air and Water, and the WELL Health-Safety Rating. Adding to the wellness certifications, the building recently received WiredScore Gold certification for future-ready, best-in-class, secure Internet connectivity and infrastructure, 2 Star Fitwel certification and is on track to achieve LEED Silver.
“Partners Group has a strong focus on sustainability and tenant wellbeing and this is showcased at Seven Tower Bridge. The building's innovative design-led features and high-end specifications also align with Lutron Electronics’ breakthrough lighting and shading technologies that reduce climate impact of buildings while enhancing the user experience. At Seven Tower Bridge, Lutron has found a location that will serve the company well,” said Matt Bosquez, Lead Asset Manager, Private Real Estate, Partners Group.
“The building combines the three elements that attract and inspire top talent: the most accessible location, extensive amenities, and sophisticated, urban-quality design,” said Donald Pulver, President of OTP. “We are proud to welcome Lutron to this remarkable building with an environment that dramatically improves the recruitment, retention, and productivity of employees.”
Tyler Vandegrift of JLL represented Lutron, and Esther Pulver of OTP in conjunction with Ken Kearns of Cadence Real Estate Advisors represented the Landlord.
For more information about Seven Tower Bridge, visit www.seventowerbridge.com.
About Lutron Electronics (www.lutron.com)
Founded in 1961, Lutron Electronics is headquartered in Coopersburg, Pennsylvania. From dimmers for the home, to lighting management systems for entire buildings, the company offers more than 15,000 energy-saving products, sold in more than 100 countries. In the US alone, Lutron products save an estimated 10 billion kWh of electricity, or approximately $1 billion in utility costs per year. The company’s early inventions— including the first solid-state dimmer invented by Lutron’s founder, Joel Spira—are now at the Smithsonian’s National Museum of American History in Washington, DC.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 170 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 127 billion in assets under management as of 31 December 2021, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
About American Real Estate Partners
Headquartered in the greater Washington metropolitan area, AREP is an institutional fund manager and operating partner focused on data center, office, and residential mixed-use development and repositioning throughout the East Coast. Since its founding in 2003, AREP has deployed over $4.5B across targeted geographies, comprising more than 17M SQF of class-A real estate, and currently oversees over 10 million square feet of assets. AREP's vertically integrated real estate platform provides best-in-class expertise in all ownership disciplines, from investment strategy, acquisitions, and development to asset management, leasing, and building operations. By leveraging this expertise, AREP remains at the leading edge of real estate innovation, maximizing investment and building performance to provide real value.
For more, please visit AREP's Newsroom.
About Oliver Tyrone Pulver Corporation
Oliver Tyrone Pulver Corporation (OTP), headquartered in Conshohocken, Pennsylvania, is a privately held commercial real estate development firm with a 50-year history of developing over 15 million square feet of premier office space in the cities and suburbs of Philadelphia, Pittsburgh, Cleveland, and Chicago. By selecting only the most desirable locations and developing the highest quality buildings, it has established a strong track record of successful projects providing highly desirable office space for tenants and high returns for partners. For more information, visit otpcorp.com.