Welcome to King of Prussia TRANSFORMING ONE OF AMERICA’S GREAT EDGE CITIES
KOP Improves Business Tax Position
New HQs Choose KOP
A recent study by Econsult Solutions shows Upper Merion Township/King of Prussia has reduced business tax impacts.
Three major corporations moved their operations to King of Prussia in the past year.
The Judge Group at 151 S. Warner Road | © Don Pearse Photographers, Inc.
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“King of Prussia continues to experience tremendous growth with positive gains in employment, housing and investor confidence.” —
Eric Goldstein Executive Director, King of Prussia District CHOP King of Prussia, Specialty Care & Surgery Center
At a Glance: King of Prussia For those who have made King of Prussia (KOP) their home or office location in the past, the growth of this regional powerhouse comes as no surprise. As a continual force in the Philadelphia region for more than 50 years, KOP serves as Montgomery County’s economic engine. KOP is, after all, home to the largest concentration of: employment (60,000+); retail (6.9M SF); industrial/flex (9.2M SF); and commercial office (7.65M SF) space in the suburban Philadelphia region. KOP benefits from its easy, accessible location at the confluence of some of SE Pennsylvania’s most traveled highways (276, 76, 202, 422 and 23).
A $1B Boom Luxurious new retail. A smoldering hot restaurant scene. Thousands of new apartments. Best office leasing activity in a decade. KOP is experiencing a new era of growth. There is over $1B in economic development activity currently underway. The community recently added 155,000 SF at King of Prussia Mall and is currently adding 260,000 SF of retail and dining at the King of Prussia Town Center. 2,000 luxury apartments and town-homes are under construction at The Village at Valley Forge. That’s all in addition to the 500+ new luxury apartments in the rezoned KOP business park. New commercial office construction, top-dollar transactions and solid leasing activity point toward a strong KOP market.
“The recent economic growth in Upper Merion has helped enable the Township Supervisors to hold the line on real estate taxes for 6 consecutive years, while enhancing services. This has helped make King of Prussia a more affordable place to do business.” — Bill Jenaway Chairman of the Board of Supervisors, Upper Merion Township
Brownstones at The Village at Valley Forge | © Weld Photography 2017
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King of Prussia Adds New Luxury Housing to Support Employment Growth
An Engaging & Vibrant Community Successful and culturally enhancing events continue to connect visitors, companies and employees with KOP year-round. From KOPBID’s own events to local community festivals, KOP thrives throughout the year with concerts, beer festivals, comedy shows and more.
Hanover Valley Forge
King of Prussia Beerfest Royale
Rendering of Canvas © Forest Perkins
The Village at Valley Forge
• Indigo 301 (open) • Hanover Valley Forge (open) • Hanover King of Prussia (under construction)
• AVE King of Prussia
(under construction)
Yoga Happy Hour
• Canvas
(55+ under construction)
Indigo 301
• The Brownstones
– for sale townhomes
• Woodfield Valley Forge (under construction)
Business Park (558 units)
• Park Square - 310 units (under construction)
• LeCesse - 248 units
(under construction)
Rendering of Brownstones at The Village at Valley Forge
Rock Your Lunch
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Embracing the Opportunity to Connect the King of Prussia Region via Rail
Above: Rendering of KOP Rail traveling over Route 202 | Upper Right: Rendering of KOP Rail along Mall Boulevard | Bottom Right: Existing Norristown High Speed Line
“Investments like the King of Prussia Rail project are necessary for our region to maintain its competitive advantage.” — Jerry Sweeney Chairman of the King of Prussia Rail Coalition, and President & CEO of Brandywine Realty Trust
On October 13, 2017, SEPTA released the Draft Environmental Impact Statement (DEIS) for the proposed extension of the Norristown High Speed Line. The project, often referred to as King of Prussia Rail, will connect the three largest employment centers in the Philadelphia region, Center City, University City and King of Prussia, for the first time via passenger rail service.
When complete, the project will: • Be a catalyst for development at all points along the line including King of Prussia, Norristown and points along the Main Line • Help minimize development impacts on already congested roadways such as Route 422 and the Schuylkill Expressway • Reduce commute times to and from King of Prussia by an estimated 30 minutes
Help Grow the Region — ENDORSE THE KOP RAIL PROJECT koprailcoalition.com #GoKOPRail
• Make the Philadelphia region a more competitive market for companies seeking to remain and/or locate here Leaders from across the region have endorsed King of Prussia Rail including the Chairman of the King of Prussia Rail Coalition, Jerry Sweeney, President & CEO of Brandywine Realty Trust; John Fry, President of Drexel University; Ira Lubert of Lubert-Adler Real Estate Funds; and Rob Wonderling, President of The Chamber of Commerce for Greater Philadelphia. Over 600 individuals and companies have endorsed the project to date. Show your support by endorsing online at koprailcoalition.com
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Top 10 Reasons Business Thrives in King of Prussia
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KOP is the largest center of employment in the suburban Philadelphia region.
There’s an undeniable momentum in King of Prussia.
Business leaders enjoy the ability to work with and utilize the King of Prussia District.
KOP is the beating heart of the suburbs, with over 60,000 employees and a network of businesses that continue to grow.
With over $1B in current economic development projects underway, KOP is experiencing unprecedented energy and growth across multiple sectors.
KOP-BID creates an environment of success, connecting businesses with a culture of growth — working to improve the economic climate and facilitate initiatives to make KOP the best possible location to do business.
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Highways, byways, and more ease the ways you get around.
Lower taxes equal limitless growth.
King of Prussia enjoys diverse, high-quality housing options.
Thanks to ease of access from Routes 23, 76, 202, 276, and 422, free parking throughout business and retail areas and public transportation options, accessibility is virtually unrivaled in competing markets.
King of Prussia is the economic powerhouse of Montgomery County. KOP enjoys low real estate taxes, the absence of a constrictive wage tax, and competitive business taxes.
Located in the heart of Montgomery County, KOP offers a diverse section of new, modern luxury apartments and executive housing in close proximity to famous retail and entertainment destinations.
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Children enjoy a great education and community.
A safe and healthy environment sets the stage for success.
King of Prussia is preceded by its sterling, international reputation.
For employees who live in the area, a phenomenal school district coupled with great dining, entertainment, and places of worship, and community sports, Upper Merion is a world-class area to call home.
KOP is one of the safest communities in Pennsylvania. With its reputation for security and cleanliness, KOP offers a burgeoning culture of parks and trails, providing a healthy environment for employees and businesses.
KOP is famous for retail with outstanding dining and hospitality options. Regionally, KOP is known for even more – with nearby historical attractions, nonstop events, festivals, nightlife, and much more.
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A culture of events keeps King of Prussia celebrating year-round. KOP businesses enjoy a lineup of great events produced by KOP-BID, including yoga happy hour, lunchtime concerts, restaurant week, Beerfest Royale, and the region’s top networking events. These are in addition to the marquee of national headliners at Valley Forge Casino Resort, cultural activities at Valley Forge National Historical Park, and the many festivals and gatherings that help to define the extraordinary culture of King of Prussia.
To learn about exciting developments and events in King of Prussia, explore
visitKOP.com
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Economic Development Projects
With over $1B in development projects currently underway, King of Prussia has truly established itself as the economic powerhouse of the suburban Philadelphia region. Here are just some of the projects that were recently completed.
Completed in 2016
King of Prussia Mall Expansion
King of Prussia Town Center
Goodman Properties
160 N. Gulph Road
155 Village Drive
125 W. DeKalb Pike
In just two years, King of Prussia Mall completed its 155,000 SF expansion, connecting its former two buildings into one shopping mecca. Now the East Coast’s largest shopping mall features 450+ luxury and firstto-market retailers, Savor food court, valet parking and a concierge.
This upscale, pedestrian-friendly lifestyle center transformed the former golf course into KOP’s first ‘Main Street.’ Located in the heart of The Village at Valley Forge, KOP Town Center features dozens of first-to-market retailers and restaurants, centered around the Town Square ideal for gatherings and events.
The former Sports Authority at Henderson Road was reimagined into a modern shopping center featuring a Wine & Spirits, Stein Mart and Fortunoff Backyard Store.
Upper Merion Township Community Center
FedEx Distribution Center
Einstein Healthcare Network
600 River Road
210 Mall Boulevard
431 W. Valley Forge Road
The new 315,897 SF facility opened in 2016 after a $52M build out. The facility employs about 200 people.
The new, 30,000 SF outpatient facility underwent a $5.7M renovation to offer primary care and specialties, as well as outpatient radiology.
The state-of-the-art facility offers Upper Merion residents and area employees the perfect place for fitness, recreational programs and meeting space. The facility also includes a Senior Service Center and walking trails.
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Completed in 2017
Valley Forge Casino Resort
Best Western Plus The Inn at King of Prussia
116 First Avenue
127 S. Gulph Road
The Casino Tower recently enjoyed an extensive $6M renovation, its first in nearly a decade. The reinvigorated Tower now features luxury suites with updated amenities that will enhance guests’ overnight experiences and drive the casino’s growth.
Located in the heart of KOP, the hotel recently completed renovations to its lobby, front desk, breakfast room and media center, along with a new ballroom for up to 80 guests. A new conference room, boardroom, selfservice market and Elite Core Fitness rounded out the $1M renovation.
GeoBlue
Bassett Furniture
955 First Avenue
611 W. DeKalb Pike
Developed by Brandywine Realty Trust, the 110,000 SF build-to-suit site includes a gym, private company café and full corporate training center.
Developed by OneCorp and sold for nearly $12M, construction on the 18,000 SF property was complete in spring 2017.
Ongoing DoubleTree by Hilton Valley Forge 301 W. DeKalb Pike Renovations are currently underway on the 327-room property, with a Starbucks store front and gift shop already completed. The remainder of the $3.2M renovations will focus on guest rooms, meeting space, the lobby, and its two restaurants, and are expected to be complete by Q1 or Q2 2018.
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First-to-Market: Retailers and Restaurants Recognized around the world as one of the leading retail and dining destinations in the U.S., KOP shows no signs of slowing down. With the recent expansion of the King of Prussia Mall and completion of Town Center, more than 100 new retailers and restaurants joined KOP in the past two years, with more coming soon in 2018. Many of the openings were the first to open in the U.S. or the East Coast, and some represented the first brickand-mortar stores for traditionally online retailers.
2017 OPENING HIGHLIGHTS Alex and Ani All Saints Choolah Indian BBQ* Davio’s Galleria Duck Donuts* East Meets West Founding Farmers* Ghurka* The Habit Burger Grill* Ideal Image Mission BBQ Mistral* Muse Paint Bar*
Ribbon cutting at Vertex
King of Prussia Improves its Business Tax Position In 2011/2012, King of Prussia District engaged Econsult Solutions, Inc. of Philadelphia to analyze total tax burdens on companies in the 10 largest employment centers in the Philadelphia region. The report showed that Upper Merion Township/King of Prussia typically fell in the middle (6 on a scale of 1-10) across a broad range of industries and company sizes and archetypes. Since then, Upper Merion Township Supervisors have been able to hold the line on tax increases for six consecutive years and the school district did not raise school taxes last year for the first time in nearly two decades. The ability of Township and School District officials to do this was fueled by the explosive growth of commercial properties in the Township and the subsequent tax revenue and fees generated by the development and sale of property. A 2017 update to the 2011/2012 study shows that Upper Merion Township/King of Prussia has improved its position when it comes to business tax burdens and now ranks 3rd lowest among all of its suburban competitors.
To connect with King of Prussia and learn about exciting new developments and events, explore visitKOP.com today.
NYX Tadashi Shoji* Tommy John** True Food Kitchen* Yard House*
COMING SOON District Taco* Eddie V’s J. Alexander’s MidiCi the Neopolitan Pizza Co.*
*First in PA **First Brick & Mortar
Township and BID Moving King of Prussia Forward Thanks to the efforts of numerous commercial property owners and Upper Merion Township (UMT) officials, a strategy was put in place to revive the fortune of KOP and establish a long-term plan for the future. The plan centered on improving multi-modal transportation options; revising outdated zoning codes; improving the aesthetics of the community; improving marketing and communication efforts; and repositioning the community in the face of changing demographic preferences. The King of Prussia District (KOP-BID) emerged from that plan. Through KOPBID, UMT and KOP commercial property owners are able to systematically reinvigorate the Township through a common strategic vision viewed favorably by investors, developers, retailers and residents alike.
For a complete list, visitKOP.com
King of Prussia District visitKOP.com | info@kopbid.com | 484.681.9452 | @KOPBID | @visitKOP | #OurEdge
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King of Prussia Town Center Project of the Year Philadelphia Business Journal
King of Prussia Mall 2016 Suburban Project of the Year ACE Mentor Program
IMC Construction is proud to help transform King of Prussia. imcconstruction.com
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With over $2.5
billion of successful development to date,
Brandywine Realty Trust is the on-time, on-budget developer to build the workplace your company needs. 933 First Avenue | King of Prussia, PA Build-to-suit development by Brandywine with amenity spaces, advanced connectivity and floor layouts optimized to receive natural light. Site in optimal transit-oriented location adjacent to planned rail extension.
(610) 325-5600 | www.brandywinerealty.com
KING OF PRUSSIA
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RECENTLY REDEVELOPED 247,000 SF CLASS A OFFICE CAMPUS
AN OFFICE CAMPUS IN THE HEART OF A LIVE, WORK AND PLAY ENVIRONMENT
Bay Colony is prominently located along the growing Swedesford Road corridor in Wayne, PA, within minutes of major connecting routes to all of Southeastern Pennsylvania, Northern Delaware, and Southern and Central New Jersey. There is easy access to restaurants, shopping and hotels as well as Routes 202, 422, I-76 and the Pennsylvania Turnpike. The property is just 24 miles from the Philadelphia International Airport and 20 miles from Center City Philadelphia, with direct access to a wide variety of amenities, including the King of Prussia Mall, Gateway Shopping Center and the King of Prussia Town Center.
Expanded lobbies featuring all new finishes and flooring All new corridors, bathrooms and elevator cabs campus wide New central cafĂŠ and conference center New outdoor seating and collaborative areas
565,575,585,& 595 E. Swedesford Road Wayne, PA 19087
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Driven by Our Promise
We are unlocking the lifesaving potential of biotherapies. www.cslbehring.com
©2017 CSL Behring LLC 1020 First Avenue, PO Box 61501, King of Prussia, PA 19406-0901
KING OF PRUSSIA
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WE GOT YOU COVERED, KOP
THE BUSINESS JOURNAL HAS BEEN ON TOP OF KING OF PRUSSIA’S EXPLOSIVE GROWTH!
TINYURL.COM/KOPCOVERAGE For news tips, contact Editor-in Chief Craig Ey, cey@bizjournals.com, (215) 238-5134 For advertising information, contact Phyllis Demo, pdemo@bizjournals.com, (215) 238-5125
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KING OF PRUSSIA
AVE King of Prussia ApArtments And Flexible-stAy Furnished suites. perfect for the extended-stay business traveler, individual in transition whether they are relocating, renovating, or rethinking their current lifestyle, and discerning renter. Opening lAte Winter 2018! now leasing!
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aVeliVing.coM 610.624.6131
liVe BeTTeR
@AVELIVING
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OUR EDGE. YOUR SUCCESS.
King of Prussia Town Center © Eric Prine Photography
King of Prussia District helps ambitions thrive in a community defined by growth and driven by a clear vision of prosperity. We create economic momentum by championing transformative initiatives with relentless dedication. It’s our privilege to make it easy to imagine bringing your business to King of Prussia. Explore visitKOP.com and take your first step toward a brighter future.
visitKOP.com
King of Prussia District 234 Mall Boulevard, Suite 150 King of Prussia, PA 19406