Major renovations at the navy Yard

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                  The Navy Yard News
 YARD             #     #    #    #     #   #      #     #    #    #    #    #     #      #     #     #     #     #     #       Volume 1 Issue 1

   Message from PIDC
                                                Major renovations at
     It has been an exciting and
                                                the navy Yard
     busy time for The Navy Yard.
     During the past year, PIDC
     has welcomed nine new
     tenants that have occupied
     nearly 500,000 square feet of
     existing buildings, and
P H Icompleted construction of the
     initial building in the research
     park—AppTec Laboratory

     These transactions have
     generated more than $35
     million of investment in
     buildings and infrastructure,
     and maintained a high level of
 NAVYleasing activity during a
 YARDsluggish economy. More than
     60 businesses, and 6,000
P H Iemployees, now call The Navy
     Yard home.                                                                  Building 10 has undergone a multi-million dollar renovation restoring
                                                                                 its 19th century splendor and preparing it for modern office use.

   The immediate future                         Transformation of The Navy Yard’s office            uses. PIDC assembled a team of
   promises to bring more                       market is well underway, with a                     architects and engineers to conduct
   tenants and activity, following              concentration of office developments                the transformation to Class A office
   the unveiling of The Navy                    occurring on Broad Street.Three key                 space. Building 10’s exterior was
   Yard Master Plan. The Master                 examples are the historic renovations of            completely restored to its original
   Plan outlines the next phase                 Building 10, Building 26 and Building 6.            design, including windows, terracotta
   of development opportunities,                Combined, these projects represent                  details and moldings. The lobby and
   comprising 525 acres of land                 127,000 square feet of newly renovated              vestibules were renovated to reflect
   and buildings, which will guide              Class A office space with an aggregate              the industrial feel of the building’s
   new development over the                     investment of more than $20 million,                                           continued on page 2
   next decade. We look                         that will eventually house more than
                                                400 office workers. Building 10 — one
   forward to new and exciting                                                                            Contents
                                                of the earliest ship fabricating buildings
   development, making The
                                                at The Navy Yard constructed in 1903                      Major Renovations     1-2
   Navy Yard an even better
                                                — was selected for office renovation                      SEPTA Service           2
   place to work.                               because of its central location on Broad                  Development Highlights 3
                                                Street, size and adaptability for office                  Tenant List             4
   Major Renovations continued
    former use, retaining the existing steel structure and                        At the foot of Broad Street across from the Cruise Ship
    remnants of the former wood shop. In addition, there was                      Terminal is Building 26. Once a manufacturing facility
    major new construction of the interior consisting of two                      for submarine periscopes, Building 26 is the future
    sets of stairs, restrooms on each floor and restoration of                    home of Barthco International — one of the largest
    existing overhead cranes. Upon completion, the project                        privately-held logistics organizations in the United
    won several prestigious awards: 2004 AIA Pennsylvania                         States. Barthco is in the midst of a historic restoration
    Design Award, 2004 Pennsylvania Historic Preservation                         of the building that involves exterior restoration and
    Construction Award and the 2004 Preservation                                  complete interior modernization. The restoration
    Achievement Award. Located in the Historic Core of The                        includes installation of modern, state-of-the-art systems
    Navy Yard, Building 10 offers beautiful views of the                          and technology while still preserving the historic nature
    Delaware River as well as free, convenient parking and tax                    of the building. The renovation plans have been given
    advantages of the Keystone Opportunity Improvement                            National Park Service historic approval, allowing
    Zone (KOIZ). Initial marketing efforts for Building 10 have                   Barthco to take advantage of historic tax credits.
    been very well received.                                                      Barthco, and approximately 200 employees, will occupy
                                                                                                           this 45,000 square foot building
                                                                                                           this fall to house its world
                                                                                                           headquarters and operations

                                                                                                        Building 6 (left), once home to
                                                                                                        the Shipyard Commander, has
                                                                                                        been restored to its 1903
                                                                                                        splendor by Philadelphia
                                                                                                        developer P&A Associates. In
                                                                                                        2002, the 35,000 square foot
                                                                                                        building underwent a complete
                                                                                                        interior and exterior historic
                                                                                                        renovation approved by the
                                                                                                        National Park Service. The
                                                                                                        building’s conversion into a
                                                                                                        Class A multi-tenant office
                                                                                                        building has been well received
                                                                                                        by the office market. Currently,
                                                                                                        the Commandant’s Headquarters
                                                                                                        is 85% occupied, with eight
                                                                                                        private companies calling it
Building 6 is a prime example of a renovation that made a property marketable to office users.

     SEPTA Offers
     Improved Bus                                     D     uring regular business hours, SEPTA now operates a special shuttle
                                                      bus (Route 71) throughout The Navy Yard, following the same route as
          Service                                     previous Route 17 bus. This shuttle bus maintains the existing route and
                                                      makes connections to SEPTA’s Broad Street Subway every 20 minutes.
            to the                                    During weekends and holidays, the 17 bus will continue to serve The Navy
        Navy Yard
                     Development Highlights

Liberty Property/Synterra LP
Developing Navy Yard
Corporate Center

                                           Marketing Initiatives                   The new entrance sign (above) supports
                                                                                   the name change to The Navy Yard.

 A    fter a national search,            In an effort to effectively market
                                         the Philadelphia Naval Business
                                                                                   research among the real estate
                                                                                   community and selected Navy
 PIDC selected Liberty                   Center and implement the                  Yard tenants indicates that it
                                         recommendations and initiatives           enables marketing efforts to refer
 Property /Synterra LP to                identified in the Master Plan, the        to the past and, at the
 develop The Navy Yard                   Philadelphia Naval Business               same time, look
                                         Center name and logo have been            forward to what the
 Corporate Center,                       changed. The new name: The                site will become.
                                         Navy Yard - Philadelphia. While                    NAVY                     NAVY
 approximately 70 acres of
                                         the new name essentially returns                   YARD                     YARD
 land east of Broad Street.              the property to its original name,                PHILADELPHIA             PHILADELPHIA

 The Navy Yard Master Plan
 identifies a series of new mid-                                            What’s New
 rise office buildings within the
                                           AppTec                                                                  NAVY
                                                      The first new research and development facility at The Navy Yard is
 Corporate Center to be                               home to AppTec Laboratory Services. The $20 million, 75,000  YARD
                                      Laboratory                                            YARD
                                         Services     square foot facility is the first building within The Navy Yard D E L P H I A
 developed over the course of                                                              PHILADELPHIA
                                                      Research and Technology Park, and will house 200 AppTec
 the next decade, totaling
                                          Capital     During the summer, several major construction projects will take
 more than one million square
                                    Improvements      place. Flagship Drive, located between Broad and 13th Streets, is
 feet of Class A office space.                        under construction which involves realigning the roadway and
                                        Underway      adding new pedestrian sidewalks, landscaping and street lighting.
                                                                                           NAVY               NAVY
 The first building — One                             The entrance to The Navy Yard will also undergo a transformation,
                                                                                           YARD               YARD
                                                      with a new three-acre plaza, roadHrealignments, pedestrian
                                                                                          P ILADELPHIA
 Crescent Drive —which will                           sidewalks, lighting and utility upgrades.              PHILADELPHIA

 comprise 75,000 square feet           Navy Yard      In the past year,The Navy Yard hosted several big-time, and small-
                                      Hollywood       time, film and television producers. The Greater Philadelphia Film
 of Class A office space, will be                     Office has assisted PIDC in luring Hollywood film studios to use
 located adjacent to the Broad                        converted Navy buildings for sound stages, set design and
                                                      production. This past year,The Navy Yard welcomed The Woodsman,
 Street entrance within the                           starring Kevin Bacon; The Village, M. Night Shyamalan’s next film
                                                      starring Joaquin Phoenix; and the closing chase scene for the CBS
 Keystone Opportunity                                 Series “Hack” was filmed on site.
 Improvement Zone.                    Demolition      And lots of it. During the past three years, PIDC has demolished
                                                      many of the old, obsolete buildings that PIDC inherited from the
                                                      Navy. The majority of the demolition has occurred in the
                                                      Corporate Center and Historic District, and will permit the
                                                      development of new buildings and redevelopment of the existing,
                                                      historic buildings. All told, more than 1.5 million square feet of
                                                      buildings have been demolished to make way for new development.
The Navy Yard Businesses
            Advanced Engineering & Research Associates, Inc.         Metro Machine of Pennsylvania, Inc.
            Alstom, USA, Inc.                                        Menasha Packaging Company, LLC
            Anteon Corporation                                       Moran Towing of Pennsylvania
            Aphton Corporation                                       Mothers Work, Inc.
            AppTec Laboratory Services                               Nason Construction, Inc.
            Biomechanics, Inc.                                       NAVMAR Applied Sciences Corp.
            Cinergy Solutions of Philadelphia, LLC                   Newark Special Technology, Inc.
            Collegiate Consortium for Workforce and                  Northrop Grumman Systems Corp.
            Economic Development                                     P&A Associates
            Canadian Pacific Railway                                 Pennsylvania Horticultural Society
            Changing World Technologies                              Philadelphia Industrial Development Corp.
            Chapel of the Four Chaplains                             Philadelphia Shipyard Development Corp.
            Covington Woods Pictures, Inc.                           Philadelphia Workforce Development Corp.
            Cushman and Wakefield of PA, Inc.                        Port of Philadelphia & Camden
            Del-San Environmental, Inc.                              Potomac Navy Yard, LLC
            DiNic’s of Snyder Ave., Inc.                             Prime Plate Enterprises, Inc.
            Excel Welding                                            Printcrafters, Inc.
            Geo-Centers, Inc.                                        Quaker Electrical & Mechanical Contractors, Inc.
            George G. Sharpe, Inc.                                   Rhoads Industries
            Gibbs & Cox, Inc.                                        River Associates
            Int’l. Institute of Forensic Science                     Rotem Company
            Jamie Record Company                                     Sautter’s Café
            John J. McMullen Associates, Inc.                        Securitas Security Services USA, Inc.
            Johnson Machinery Company, Inc.                          Stonehenge Advisors, Inc.
            Kvaerner Philadelphia Shipyard, Inc.                     Thackray Crane Rental, Inc.
            Landmar Enterprises, Inc.                                U.S. Dept. of Agriculture
            Life Cycle Engineering                                   U.S. Navy
            Living Naturally, LLC                                    VITETTA
            McAllister Towing of Philadelphia, Inc.                  WHYY, Inc.
            MetroKids Publications                                   Wilmington Steel Processing Co.

                                 NAVY                 NAVY Philadelphia Industrial Development Corporation
                                 YARD                 YARD 1413 Langley Avenue • Philadelphia PA 19112
                                PHILADELPHIA         PHILADELPHIA   215-THE-YARD •

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