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Philadelphia Bourse

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Coordinates: 39°56′59″N 75°8′54″W / 39.94972°N 75.14833°W / 39.94972; -75.14833
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Philadelphia Bourse Building
(2014)
Philadelphia Bourse is located in Philadelphia
Philadelphia Bourse
Location within Philadelphia
General information
Location13 South 5th Street
Philadelphia, Pennsylvania
Coordinates39°56′59″N 75°8′54″W / 39.94972°N 75.14833°W / 39.94972; -75.14833
Construction started1893
Completed1895
OwnerKeystone Property Group and Lubert‑Adler Real Estate Funds[1][2]
Height
Roof125 feet (38 m)
Technical details
Floor count9
Floor area280,000 square feet (26,000 m2)
Design and construction
ArchitectG. W. & W. D. Hewitt
DeveloperKeystone Property Group and Lubert‑Adler Real Estate Funds[1][2]

The Philadelphia Bourse was a commodities exchange founded in 1891 by George E. Bartol, a grain and commodities exporter, who modeled it after the Bourse in Hamburg, Germany. The steel-framed building—one of the first to be constructed—was built from 1893 to 1895 and was designed by G. W. & W. D. Hewitt in the Beaux‑Arts style.[3] Carlisle redstone, Pompeian buff brick and terra cotta were all used in the facade. The building was sold in 1979 to Kaiserman Company and underwent extensive renovations, bringing the internal usable surface to approximately 286,000 square feet (26,000 m²).[4] In 2016, MRP Realty took ownership and invested US$40 million in renovations.[5] In mid‑2024, MRP Realty sold the Bourse to a joint venture of Keystone Property Group and Lubert‑Adler Real Estate Funds, which plans a mixed‑use redevelopment of the landmark.[6][7] The building now houses office space anchored by Digitas, a subsidiary of Publicis Groupe.[8]

History

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Share of the Philadelphia Bourse, issued March 1, 1892

Upon his return from a European trip in 1890, Bartol organized the Philadelphia business community. He asked each new member to pledge $1,000 to the project. The Bourse motto was "Buy, Sell, Ship via Philadelphia."[9]

The Bourse stopped functioning as a commodities exchange in the 1960s. The structure continued to serve as an office building until 1979, when it was sold and renovated to include upscale retail space on floors near the street level. The upper levels of the building continued to house office space. A movie theatre specializing in independent films, The Ritz at the Bourse, sits across the street at 4th and Ranstead streets.

In 2018, a two‑year rehabilitation created a brand‑new food hall with 30 vendors.[10]

The building is listed on the National Register of Historic Places.[11]

Today

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Food Hall Entrance (2024)

After a two-year rehabilitation, The Bourse reopened as a modern food hall with 30 vendors in November 2018.[10] However, the COVID‑19 pandemic severely impacted these businesses and as of June 2024 all the restaurants are closed and abandoned. A joint venture led by Keystone Property Group and Lubert‑Adler Real Estate Funds acquired the building in mid‑2024 and announced plans to redevelop the historic property into a mixed‑use complex featuring a Hilton Tapestry Collection hotel, office space anchored by Digitas (a subsidiary of Publicis Groupe) and retail and dining concepts operated by Cook N’ Solo. Financing for the redevelopment is being provided by KKR, and construction is expected to be complete by 2027.[1][2]

Tenants

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  • Diversified Lighting
  • MakeOffices[12]
  • Mexican Consulate
  • Piano
  • Society Hill Dental
  • Jasonxpan
  • Allen & Gerritsen[13]

See also

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References

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Notes
  1. ^ a b c "Bourse and 400 Market St. sale to Keystone and Lubert‑Adler sparks redevelopment plans". Philadelphia Business Journal. June 17, 2025. Retrieved November 2, 2025.
  2. ^ a b c "The Bourse Philadelphia EB-5 Project – Historic Landmark Redevelopment". EB5 Visa Investors. Retrieved November 2, 2025.
  3. ^ "Redirection of: The Bourse". www.ushistory.org. Retrieved November 2, 2025.
  4. ^ Kostelni, Natalie (May 4, 2012), "Historic-area offices take hits", Philadelphia Business Journal, bizjournals.com, retrieved May 16, 2012
  5. ^ Adelman, Jacob (February 2016). "D.C. firm buys controlling stake in the Bourse, plans $40M renovation". www.inquirer.com. Retrieved November 2, 2025.
  6. ^ "Bourse and 400 Market St. sale to Keystone and Lubert‑Adler sparks redevelopment plans". Philadelphia Business Journal. June 17, 2025. Retrieved November 2, 2025.
  7. ^ "The Bourse Philadelphia EB-5 Project – Historic Landmark Redevelopment". EB5 Visa Investors. Retrieved November 2, 2025.
  8. ^ "The Bourse Philadelphia EB-5 Project – Historic Landmark Redevelopment". EB5 Visa Investors. Retrieved November 2, 2025.
  9. ^ "Philadelphia Bourse". philadelphiabuildings.org. Retrieved May 29, 2015.
  10. ^ a b "Historic Bourse Building To Reopen After Year‑And‑A‑Half". September 21, 2018. Retrieved August 30, 2019.
  11. ^ "Visit Philadelphia: The Shops at The Bourse". VISITPHILLY.COM. visitphilly.com (The official visitor site for greater Philadelphia). Retrieved April 3, 2017.
  12. ^ "The Bourse Building Coworking Space in Philadelphia – MakeOffices". Make Offices. August 1, 2018. Retrieved August 30, 2019.
  13. ^ "Home". a-g.com.
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