What is the plan and timing for the Annex building?
Penn is leasing the land to Brandywine Realty Trusts for 99 years. The redevelopment will bring first class commercial amenities in a mixture of uses including office, and potential residential uses, hotel, office, with a parking facility and street level retail businesses. Demolition of the Annex building begins in the fall of 2007, and the plan is to have new buildings completed by 2010.
