Project Overview
In December 2025, PEA, Nuveen Green Capital, and Brandywine 3151 Market LP (Brandywine Realty Trust) closed on $87.3 million in C-PACE financing for 3151 Market Street.
Located within Brandywine’s Schuylkill Yards master development, the nearly 490,000-square-foot facility was built to high-performance life sciences, laboratory, and corporate office standards. The deal’s retroactive C-PACE capital allowed Brandywine to recapitalize, preserving liquidity and conventional debt capacity.
The deal set new Pennsylvania records as the state’s largest C-PACE financing and first for a publicly traded Real Estate Investment Trust (REIT). In 2026, Brandywine Realty and retailer Burlington Stores Inc. announced acquisition of 3151 Market Street. Burlington Stores plans to relocate its corporate headquarters to Philadelphia, bringing approximately 2,000 employees to the University City neighborhood.
$87 million
$41,000
Annual energy savings
290 Mt
Annual avoided carbon emissions
Project Details
Designed with sustainability at its core, 3151 Market Street serves as a major commercial anchor along the Market Street corridor in West Philadelphia’s University City. The building is LEED® Platinum certified for sustainable building design and operations, the highest standard for environmental quality.
C-PACE financing was used to retroactively refinance high-efficiency building infrastructure and water conservation investments installed during the ground-up development of the property. C-PACE funds covered the following building improvements:
- High-efficiency HVAC system upgrades tailored for flexible laboratory and office use
- Advanced interior and exterior LED lighting and lighting controls
- High-performance building envelope systems (roof, wall insulation, and exterior glazing)
- Low-flow plumbing fixtures and water conservation infrastructure