Keystone Property Group’s GSB Building Lands Energy Star Certification After Significant Renovations

9/15/17

Landmark 245,000-square-foot property in Bala Cynwyd, Pa. is one of six KPG properties to recently receive the best-in-class certification

Keystone Property Group, a leading real estate developer, manager and investor of mixed-use properties, today announced that its GSB Building in Bala Cynwyd, Pa. has received Energy Star certification following the completion of $12 million in renovations at the 245,000-square-foot office and retail property.

The comprehensive property upgrades include a major facelift to the building’s main entrance and an expanded lobby with modern aesthetics, including a new revolving door, canopy, flooring, LED lighting and furnishings. The building’s multi-tenant floors also received entirely new interior corridors, including carpeting, wall covering, ceiling tiles and fully renovated restrooms.

The upgrades included a complete overhaul of the building’s three-story garage, bringing much-needed enhancements to a component that had been in disrepair when Keystone acquired the property in 2016. The building’s HVAC system also received significant improvements, including two new chillers and pumps, and a new cooling tower.

The GSB Building is among a number of Keystone Property Group buildings to recently receive Energy Star certification, joining 100 Independence Mall West in Philadelphia; Rosetree in Media, Pa.; Parkview in King of Prussia, Pa; and 5 Sentry and 16-18 VEVA in Blue Bell, Pa.

“The GSB Building is an iconic commercial property in a prime Main Line location, and its recent Energy Star certification serves as a testament to Keystone’s commitment to ensuring it remains at the top of its class,” said Richard Gottlieb, president of Keystone. “The property is a true gem, and the polish we’re applying to it enhances tenants’ ability to fully engage their employees and foster their innovative work.”

With the renovations complete, Keystone will now commence its plans to roll out significant tenant amenities and community engagement activities in the revamped lobby and garage facilities.

Future enhancements at the building will include significant upgrades to the electrical infrastructure, including a new switch-gear system, which will provide tenants with increased electrical capacity by the end of the year. Keystone is also enhancing the building’s elevators, refurbishing cabs and upgrading the elevators’ mechanical systems.

“As we have begun rolling out these enhancements over the last few months, we’ve received a lot of positive tenant feedback on the enhanced working environment we’ve already been able to create,” added Gottlieb. “We’re eager to implement these additional upgrades, and continue raising the bar for our tenants.”

The GSB Building is situated in Bala Cynwyd’s bustling City Avenue commercial corridor, where Keystone owns five commercial properties. Currently, the building is 89 percent occupied by a diverse mix of local, regional, and national businesses. The property is located near the intersection of I-76 and Route 1, about 12 minutes from Philadelphia’s Center City.

About Keystone Property Group

Keystone Property Group develops and invests in commercial properties, creating inspired work and retail spaces that encourage collaboration and cultural vibrancy. With offices located in Conshohocken, Pa.; Miami, Fla.; New York and New Jersey, Keystone operates in well-located urban and suburban locations to build, revitalize, and unlock potential in office buildings designed to meet the evolving demands of the modern workplace.

The company, which also manages a set of real estate investment funds, has been recognized by Inc. 500 magazine, the Entrepreneurs’ Forum and the Wharton Small Business Center, and several of its projects have earned “Best Real Estate Awards” from the Philadelphia Business Journal and BOMA (Chicago). For more information, please visit www.keystonepropertygro up.com.

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