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Plymouth Group, Centerbridge Break Ground on 450,000 SF Life Sciences Project in Philadelphia

Budd-Bioworks-Philadelphia

Budd Bioworks, located at the site of a former automotive plant in Philadelphia, will consist of 300,000 square feet of drug manufacturing space and 150,000 square feet of lab and office space.

PHILADELPHIA — A partnership between New York City-based developer The Plymouth Group and private investment firm Centerbridge Partners LP has broken ground on Budd Bioworks, a 450,000-square-foot life sciences project in Philadelphia. The property will be located at the site of the former plant of The Budd Co., a defunct manufacturer of automotive parts, in Philadelphia’s “Cellicon Valley” area. Budd Bioworks represents Phase I of a larger, 2.4 million-square-foot life sciences development. The development team also plans to incorporate residential, restaurant and retail uses in subsequent phases of the repositioning of the larger Budd Co. campus. Colliers International has been tapped to lease the life sciences component of the project.

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