Commerce Square
Encyclopedia
Commerce Square is a high-rise office building complex in Center City
, Philadelphia, Pennsylvania
, United States. Commerce Square consists of One and Two Commerce Square, two identical 41-story
office towers 565 feet (172.2 m) high that surround a paved courtyard of 30000 square feet (2,787.1 m²). Architecturally, the granite-clad towers feature setbacks
on the north and south sides of the building and are topped with a pair of stone diamonds with cutout squares in the center. The towers were built as part an office-building boom Philadelphia was experiencing on West Market Street
in the late 1980s. Designed by IM Pei & Partners (now called Pei Cobb Freed & Partners
), the towers were developed in a joint venture between Maguire Thomas Partners and IBM
. IBM also leased more than half of One Commerce Square for the company's Mid-Atlantic
headquarters. Construction of the first phase, which included One Commerce Square, the plaza, and retail space, began in 1985 and was completed in 1987. The project's second phase, Two Commerce Square, did not begin until a lead tenant was secured for the building in 1990. Consolidated Rail Corporation
(Conrail) agreed to be Two Commerce Square's lead tenant and make the skyscraper its corporate headquarters after a two-year search for office space in the region. Two Commerce Square ended the skyscraper construction boom of the 1980s when it was completed in 1992. No other office skyscraper was built in Philadelphia until the Cira Centre
in 2005.
In the 1990s, Commerce Square's lead tenants reduced their presence dramatically in the towers. IBM moved some of its operations out of Philadelphia in the early 1990s, and Conrail was bought by Norfolk Southern Railway
and CSX Transportation
later in the decade. Almost all of Conrail's operations were moved out of Philadelphia by the 2000s. Commerce Square was praised mainly for its design of two towers surrounding a plaza. Renowned Philadelphia urban planner
Edmund N. Bacon praised Commerce Square and its plaza by saying it "will prove to be one of the finest commercial projects to be built in this century." The New York Times
architecture critic Paul Goldberger
described Commerce Square as "discreet" and the standing diamond shapes on top as "strange".
. During the boom numerous skyscrapers were constructed in the West Market Street
neighborhood of Center City
. The $US300 million development of Commerce Square was led by Robert F. Maguire III, co-managing partner of Maguire Thomas Partners of Los Angeles. To get his project moving, Maguire engaged the architectural firm IM Pei & Partners (now called Pei Cobb Freed & Partners
) to design the complex. Using a design by a leading architectural firm as incentive, Maguire approached IBM
, a company he had past associations with. By early November 1984, after negotiations with Maguire, IBM agreed to be a joint partner in the development. IBM also agreed to serve as the lead tenant for One Commerce Square, occupying about half the building as its headquarters for the Mid-Atlantic region
. Commerce Square would be split between two buildings, One Commerce Square being built first, and the second tower, Two Commerce Square, being built later once a lead tenant was secured. Plans for Commerce Square were officially announced on November 16, 1984 at a press conference held by Maguire and IBM at the Bellevue-Stratford Hotel
. The first phase of the project included One Commerce Square, retail and restaurant space, a plaza
, and an underground parking garage. Construction began with the first phase on June 10, 1985. One Commerce Square was topped off
with a ceremony on June 6, 1986, and the skyscraper officially opened on October 23, 1987.
In 1987 the Consolidated Rail Corporation
(Conrail) indicated it wanted to consolidate its offices spread out across Philadelphia into one office building. In May 1988, Conrail solicited proposals from developers for a building to house its corporate headquarters
. On March 30, 1990, after being sought after by numerous developers in Philadelphia and its suburbs, Conrail announced that it would be leasing 27 floors of Two Commerce Square. With a lead tenant secured, construction of the identical tower commenced in July 1990. Two Commerce Square was completed in July 1992 and Conrail began moving in approximately 3,000 employees in September of that year. Two Commerce Square marked the end of the skyscraper boom of the 1980s, being the last office skyscraper to be built in Philadelphia until the Cira Centre
in 2005.
After the office-building boom of the 1980s, the 1990s saw an office glut that resulted in numerous vacancies and reduced leasing rates throughout Center City. In 1993 IBM, struggling financially, was shrinking its workforce and consolidating its operations nationwide, and its plans included moving some of its local employees out of the city. Though IBM had initially occupied nearly half of One Commerce Square, by 1993 it was using only one-fifth of the building. In 1996, Maguire Thomas Partners split up, leaving the ownership of Commerce Square to Thomas Properties Group Inc. alone. After the split, Thomas Properties renegotiated mortgage financing of the Commerce Square towers. Thomas Properties Group successfully renegotiated the debt for Two Commerce Square with Bank of America
, but was unable to renegotiate the debt with One Commerce Square's prime mortgage holder, Mitsubishi Trust and Banking Corporation
. To break the deadlock, Philadelphia Plaza Associates filed for Chapter 11 bankruptcy protection
. Thomas Properties Group is the parent company of Philadelphia Plaza Associates which owns Commerce Square.
Philadelphia Plaza Associates emerged from bankruptcy reorganization early in 1998, but the company still concerns about filling the space soon to be vacated by Conrail. In October 1996 Conrail was bought by Norfolk Southern Railway
and CSX Transportation
. The merger was concluded in May 1998 and the former Conrail offices and employees began to be moved out of the building. In the merger deal, CSX Transportation absorbed Conrail's 15-year lease. CSX was responsible for paying the lease, but the 728000 square feet (67,633.4 m²) of space was subleased, offsetting the cost. Between 1999 and 2000, as Conrail offices were phased out of Two Commerce Square, Thomas Properties filled the newly vacated space with new tenants.
565 feet (172.2 m) office towers designed by Henry N. Cobb and Douglas Gardner of IM Pei & Partners. Commerce Square covers an entire block, between 20th and 21st Streets and Market Street and John F. Kennedy Boulevard
. Commerce Square contains 2200000 square feet (204,386.7 m²), which includes 1850000 square feet (171,870.6 m²) of office space, 92000 square feet (8,547.1 m²) lobby, and a 175000 square feet (16,258 m²), 625 car parking garage. The pale-gray granite-clad skyscrapers feature setbacks
on the north and south sides of the building, with the bottom floors containing 33000 square feet (3,065.8 m²) and the upper floors 15000 square feet (1,393.5 m²). The floors feature a large amount of floor space, a design influenced by IBM's needs in the 1980s. The two towers are topped with a pair of standing stone diamonds with cutout squares in the center.
The towers are separated by a 30000 square feet (2,787.1 m²) paved courtyard. Tables and chairs are arranged around a large pink granite circular fountain in the plaza's center. The plaza was designed by Laurie Olin
of Hanna/Olin Ltd. Impressed by Commerce Square's plaza, Philadelphia's city planning commission included influences from the complex in a new building code governing open space.
said "Its most positive aspect is that it avoids the developers' cliches of atriums and shopping malls and makes a real urban place. It expresses great confidence in Philadelphia, and even more important, in the whole idea of living in cities." Renowned Philadelphia urban planner
Edmund N. Bacon praised Commerce Square and its plaza by saying "[Olin'] sensitivity for urban design is beautifully demonstrated by his design for the lobby level, including the splendid garden, of Commerce Square at 20th and Market streets, which I think will prove to be one of the finest commercial projects to be built in this century." The New York Times
architecture critic Paul Goldberger
described Commerce Square as "discreet" and "almost too well mannered." Goldberger felt the diamonds with the cutouts on the top of the towers were strange, saying "They look like diamond-shaped ears, or perhaps handles."
, Fiserv Securities Inc., Thorp Reed & Armstrong LLP, and Delaware Investments, which also leases office space in Two Commerce Square.
When Two Commerce Square opened in 1992, the Consolidated Rail Corporation made 728000 square feet (67,633.4 m²) of the tower its corporate headquarters. Since being bought by Norfolk Southern and CSX Transportation, Conrail and CSX now share about 5000 square feet (464.5 m²) in the tower. Today Two Commerce Square has become a center of accounting and consulting
firms, the largest of which is PricewaterhouseCoopers
, which occupies 215000 square feet (19,974.2 m²). Occupying the tower since its 1992 opening, professional services firm Ernst & Young LLP
leases 115000 square feet (10,683.8 m²) of the tower. Other related firms include Delaware Investments which leases 125000 square feet (11,612.9 m²) and Grant Thornton LLP. Other tenants also fill the tower, these include Leaf Financial Corporation, which leases the 14th and 15th floors; Reliance Standard Life Insurance Co., which leases 130000 square feet (12,077.4 m²); and engineering firm McCormick Taylor, which occupies 60000 square feet (5,574.2 m²). In 2010, multimedia company Wolters Kluwer
moved into 75000 square feet (6,967.7 m²) on the third and fourth floors, raising Two Commerce Square's occupancy to 91 percent.
Center City, Philadelphia
Center City, or Downtown Philadelphia includes the central business district and central neighborhoods of the City of Philadelphia, Pennsylvania, United States. As of 2005, its population of over 88,000 made it the third most populous downtown in the United States, after New York City's and Chicago's...
, Philadelphia, Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
, United States. Commerce Square consists of One and Two Commerce Square, two identical 41-story
Storey
A storey or story is any level part of a building that could be used by people...
office towers 565 feet (172.2 m) high that surround a paved courtyard of 30000 square feet (2,787.1 m²). Architecturally, the granite-clad towers feature setbacks
Setback (architecture)
A setback, sometimes called step-back, is a step-like recession in a wall. Setbacks were initially used for structural reasons, but now are often mandated by land use codes.-History:...
on the north and south sides of the building and are topped with a pair of stone diamonds with cutout squares in the center. The towers were built as part an office-building boom Philadelphia was experiencing on West Market Street
Market Street (Philadelphia)
Market Street, originally known as High Street, is a major east–west street in Philadelphia, Pennsylvania. For the majority of its length, it serves as Pennsylvania Route 3....
in the late 1980s. Designed by IM Pei & Partners (now called Pei Cobb Freed & Partners
Pei Cobb Freed & Partners
Pei Cobb Freed & Partners is an architectural firm that was founded in 1955 by I. M. Pei as I. M. Pei & Associates, in 1966 called I. M. Pei & Partners, and received its current name and organization in 1989. The founders were I. M. Pei, Henry N. Cobb, and Eason H. Leonard. Pei and Leonard retired...
), the towers were developed in a joint venture between Maguire Thomas Partners and IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
. IBM also leased more than half of One Commerce Square for the company's Mid-Atlantic
Mid-Atlantic States
The Mid-Atlantic states, also called middle Atlantic states or simply the mid Atlantic, form a region of the United States generally located between New England and the South...
headquarters. Construction of the first phase, which included One Commerce Square, the plaza, and retail space, began in 1985 and was completed in 1987. The project's second phase, Two Commerce Square, did not begin until a lead tenant was secured for the building in 1990. Consolidated Rail Corporation
Consolidated Rail Corporation
The Consolidated Rail Corporation, commonly known as Conrail , was the primary Class I railroad in the Northeast U.S. between 1976 and 1999. The federal government created it to take over the potentially profitable lines of bankrupt carriers, including the Penn Central Transportation Company and...
(Conrail) agreed to be Two Commerce Square's lead tenant and make the skyscraper its corporate headquarters after a two-year search for office space in the region. Two Commerce Square ended the skyscraper construction boom of the 1980s when it was completed in 1992. No other office skyscraper was built in Philadelphia until the Cira Centre
Cira Centre
The Cira Centre is a 29-story, office high-rise in the University City district of West Philadelphia, Pennsylvania, United States. Developed by Brandywine Realty Trust and designed by César Pelli, the Cira Centre sits across the street from Amtrak's 30th Street Station...
in 2005.
In the 1990s, Commerce Square's lead tenants reduced their presence dramatically in the towers. IBM moved some of its operations out of Philadelphia in the early 1990s, and Conrail was bought by Norfolk Southern Railway
Norfolk Southern Railway
The Norfolk Southern Railway is a Class I railroad in the United States, owned by the Norfolk Southern Corporation. With headquarters in Norfolk, Virginia, the company operates 21,500 route miles in 22 eastern states, the District of Columbia and the province of Ontario, Canada...
and CSX Transportation
CSX Transportation
CSX Transportation operates a Class I railroad in the United States known as the CSX Railroad. It is the main subsidiary of the CSX Corporation. The company is headquartered in Jacksonville, Florida, and owns approximately 21,000 route miles...
later in the decade. Almost all of Conrail's operations were moved out of Philadelphia by the 2000s. Commerce Square was praised mainly for its design of two towers surrounding a plaza. Renowned Philadelphia urban planner
Urban planner
An urban planner or city planner is a professional who works in the field of urban planning/land use planning for the purpose of optimizing the effectiveness of a community's land use and infrastructure. They formulate plans for the development and management of urban and suburban areas, typically...
Edmund N. Bacon praised Commerce Square and its plaza by saying it "will prove to be one of the finest commercial projects to be built in this century." The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
architecture critic Paul Goldberger
Paul Goldberger
Paul Goldberger is the Architecture Critic for The New Yorker, where since 1997 he has written the magazine's celebrated "Sky Line" column. He also holds the Joseph Urban Chair in Design and Architecture at The New School in New York City...
described Commerce Square as "discreet" and the standing diamond shapes on top as "strange".
History
Commerce Square was part of an office-building boom that took place in the late 1980s in Philadelphia, PennsylvaniaPennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
. During the boom numerous skyscrapers were constructed in the West Market Street
Market Street (Philadelphia)
Market Street, originally known as High Street, is a major east–west street in Philadelphia, Pennsylvania. For the majority of its length, it serves as Pennsylvania Route 3....
neighborhood of Center City
Center City, Philadelphia
Center City, or Downtown Philadelphia includes the central business district and central neighborhoods of the City of Philadelphia, Pennsylvania, United States. As of 2005, its population of over 88,000 made it the third most populous downtown in the United States, after New York City's and Chicago's...
. The $US300 million development of Commerce Square was led by Robert F. Maguire III, co-managing partner of Maguire Thomas Partners of Los Angeles. To get his project moving, Maguire engaged the architectural firm IM Pei & Partners (now called Pei Cobb Freed & Partners
Pei Cobb Freed & Partners
Pei Cobb Freed & Partners is an architectural firm that was founded in 1955 by I. M. Pei as I. M. Pei & Associates, in 1966 called I. M. Pei & Partners, and received its current name and organization in 1989. The founders were I. M. Pei, Henry N. Cobb, and Eason H. Leonard. Pei and Leonard retired...
) to design the complex. Using a design by a leading architectural firm as incentive, Maguire approached IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
, a company he had past associations with. By early November 1984, after negotiations with Maguire, IBM agreed to be a joint partner in the development. IBM also agreed to serve as the lead tenant for One Commerce Square, occupying about half the building as its headquarters for the Mid-Atlantic region
Mid-Atlantic States
The Mid-Atlantic states, also called middle Atlantic states or simply the mid Atlantic, form a region of the United States generally located between New England and the South...
. Commerce Square would be split between two buildings, One Commerce Square being built first, and the second tower, Two Commerce Square, being built later once a lead tenant was secured. Plans for Commerce Square were officially announced on November 16, 1984 at a press conference held by Maguire and IBM at the Bellevue-Stratford Hotel
The Bellevue-Stratford Hotel
The Bellevue is a landmark building at Broad & Walnut Streets in Center City, Philadelphia, Pennsylvania. It has continued as a well-known institution for more than a century. In the past 30 years the hotel has undergone minor name changes, but still is widely known by its historic name, The...
. The first phase of the project included One Commerce Square, retail and restaurant space, a plaza
Plaza
Plaza is a Spanish word related to "field" which describes an open urban public space, such as a city square. All through Spanish America, the plaza mayor of each center of administration held three closely related institutions: the cathedral, the cabildo or administrative center, which might be...
, and an underground parking garage. Construction began with the first phase on June 10, 1985. One Commerce Square was topped off
Topping out
In building construction, topping out is a ceremony held when the last beam is placed at the top of a building. The term may also refer to the overall completion of the building's structure, or an intermediate point, such as when the roof is dried in...
with a ceremony on June 6, 1986, and the skyscraper officially opened on October 23, 1987.
In 1987 the Consolidated Rail Corporation
Consolidated Rail Corporation
The Consolidated Rail Corporation, commonly known as Conrail , was the primary Class I railroad in the Northeast U.S. between 1976 and 1999. The federal government created it to take over the potentially profitable lines of bankrupt carriers, including the Penn Central Transportation Company and...
(Conrail) indicated it wanted to consolidate its offices spread out across Philadelphia into one office building. In May 1988, Conrail solicited proposals from developers for a building to house its corporate headquarters
Corporate headquarters
Corporate headquarters is a term used to describe the entity at the top of a corporation to take full responsibility for the overall success of the corporation, ensures Corporate Governance...
. On March 30, 1990, after being sought after by numerous developers in Philadelphia and its suburbs, Conrail announced that it would be leasing 27 floors of Two Commerce Square. With a lead tenant secured, construction of the identical tower commenced in July 1990. Two Commerce Square was completed in July 1992 and Conrail began moving in approximately 3,000 employees in September of that year. Two Commerce Square marked the end of the skyscraper boom of the 1980s, being the last office skyscraper to be built in Philadelphia until the Cira Centre
Cira Centre
The Cira Centre is a 29-story, office high-rise in the University City district of West Philadelphia, Pennsylvania, United States. Developed by Brandywine Realty Trust and designed by César Pelli, the Cira Centre sits across the street from Amtrak's 30th Street Station...
in 2005.
After the office-building boom of the 1980s, the 1990s saw an office glut that resulted in numerous vacancies and reduced leasing rates throughout Center City. In 1993 IBM, struggling financially, was shrinking its workforce and consolidating its operations nationwide, and its plans included moving some of its local employees out of the city. Though IBM had initially occupied nearly half of One Commerce Square, by 1993 it was using only one-fifth of the building. In 1996, Maguire Thomas Partners split up, leaving the ownership of Commerce Square to Thomas Properties Group Inc. alone. After the split, Thomas Properties renegotiated mortgage financing of the Commerce Square towers. Thomas Properties Group successfully renegotiated the debt for Two Commerce Square with Bank of America
Bank of America
Bank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
, but was unable to renegotiate the debt with One Commerce Square's prime mortgage holder, Mitsubishi Trust and Banking Corporation
Mitsubishi UFJ Trust and Banking Corporation
is the trust banking arm of the Mitsubishi UFJ Financial Group, a Japanese financial services group which is the largest in the world measured by assets...
. To break the deadlock, Philadelphia Plaza Associates filed for Chapter 11 bankruptcy protection
Chapter 11, Title 11, United States Code
Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...
. Thomas Properties Group is the parent company of Philadelphia Plaza Associates which owns Commerce Square.
Philadelphia Plaza Associates emerged from bankruptcy reorganization early in 1998, but the company still concerns about filling the space soon to be vacated by Conrail. In October 1996 Conrail was bought by Norfolk Southern Railway
Norfolk Southern Railway
The Norfolk Southern Railway is a Class I railroad in the United States, owned by the Norfolk Southern Corporation. With headquarters in Norfolk, Virginia, the company operates 21,500 route miles in 22 eastern states, the District of Columbia and the province of Ontario, Canada...
and CSX Transportation
CSX Transportation
CSX Transportation operates a Class I railroad in the United States known as the CSX Railroad. It is the main subsidiary of the CSX Corporation. The company is headquartered in Jacksonville, Florida, and owns approximately 21,000 route miles...
. The merger was concluded in May 1998 and the former Conrail offices and employees began to be moved out of the building. In the merger deal, CSX Transportation absorbed Conrail's 15-year lease. CSX was responsible for paying the lease, but the 728000 square feet (67,633.4 m²) of space was subleased, offsetting the cost. Between 1999 and 2000, as Conrail offices were phased out of Two Commerce Square, Thomas Properties filled the newly vacated space with new tenants.
Architecture
Located on West Market Street in Center City, Philadelphia, Pennsylvania, Commerce Square comprises twin 41-storyStorey
A storey or story is any level part of a building that could be used by people...
565 feet (172.2 m) office towers designed by Henry N. Cobb and Douglas Gardner of IM Pei & Partners. Commerce Square covers an entire block, between 20th and 21st Streets and Market Street and John F. Kennedy Boulevard
Pennsylvania Route 3
Pennsylvania Route 3 is a state highway located in the southeastern portion of Pennsylvania. The route connects West Chester with Philadelphia. The divided highway that comprises much of its route is the West Chester Pike, built as a turnpike by the Philadelphia and West Chester Turnpike Company...
. Commerce Square contains 2200000 square feet (204,386.7 m²), which includes 1850000 square feet (171,870.6 m²) of office space, 92000 square feet (8,547.1 m²) lobby, and a 175000 square feet (16,258 m²), 625 car parking garage. The pale-gray granite-clad skyscrapers feature setbacks
Setback (architecture)
A setback, sometimes called step-back, is a step-like recession in a wall. Setbacks were initially used for structural reasons, but now are often mandated by land use codes.-History:...
on the north and south sides of the building, with the bottom floors containing 33000 square feet (3,065.8 m²) and the upper floors 15000 square feet (1,393.5 m²). The floors feature a large amount of floor space, a design influenced by IBM's needs in the 1980s. The two towers are topped with a pair of standing stone diamonds with cutout squares in the center.
The towers are separated by a 30000 square feet (2,787.1 m²) paved courtyard. Tables and chairs are arranged around a large pink granite circular fountain in the plaza's center. The plaza was designed by Laurie Olin
Laurie Olin
Laurie Olin is an American landscape architect. He has worked on everything from private residences to large public parks. Olin grew up in Alaska, and earned his degree in Architecture from the University of Washington, in Seattle where he was mentored under Richard Haag. After graduating he...
of Hanna/Olin Ltd. Impressed by Commerce Square's plaza, Philadelphia's city planning commission included influences from the complex in a new building code governing open space.
Reception
Commerce Square was praised for its design of two towers surrounding a plaza. The Philadelphia InquirerThe Philadelphia Inquirer
The Philadelphia Inquirer is a morning daily newspaper that serves the Philadelphia, Pennsylvania, metropolitan area of the United States. The newspaper was founded by John R. Walker and John Norvell in June 1829 as The Pennsylvania Inquirer and is the third-oldest surviving daily newspaper in the...
said "Its most positive aspect is that it avoids the developers' cliches of atriums and shopping malls and makes a real urban place. It expresses great confidence in Philadelphia, and even more important, in the whole idea of living in cities." Renowned Philadelphia urban planner
Urban planner
An urban planner or city planner is a professional who works in the field of urban planning/land use planning for the purpose of optimizing the effectiveness of a community's land use and infrastructure. They formulate plans for the development and management of urban and suburban areas, typically...
Edmund N. Bacon praised Commerce Square and its plaza by saying "[Olin'] sensitivity for urban design is beautifully demonstrated by his design for the lobby level, including the splendid garden, of Commerce Square at 20th and Market streets, which I think will prove to be one of the finest commercial projects to be built in this century." The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
architecture critic Paul Goldberger
Paul Goldberger
Paul Goldberger is the Architecture Critic for The New Yorker, where since 1997 he has written the magazine's celebrated "Sky Line" column. He also holds the Joseph Urban Chair in Design and Architecture at The New School in New York City...
described Commerce Square as "discreet" and "almost too well mannered." Goldberger felt the diamonds with the cutouts on the top of the towers were strange, saying "They look like diamond-shaped ears, or perhaps handles."
Tenants
One Commerce Square's main tenant is IBM, which moved into the skyscraper when it opened in 1987. IBM initially occupied nearly half of One Commerce Square, but in the decades since, consolidation has reduced the company's presence in the building. Other tenants in One Commerce Square include Stevens & Young LLP, The Pew Charitable TrustsThe Pew Charitable Trusts
The Pew Charitable Trusts is an independent non-profit, non-governmental organization , founded in 1948. With over US$5 billion in assets, its current mission is to serve the public interest by "improving public policy, informing the public, and stimulating civic life."-History:The Trusts, a single...
, Fiserv Securities Inc., Thorp Reed & Armstrong LLP, and Delaware Investments, which also leases office space in Two Commerce Square.
When Two Commerce Square opened in 1992, the Consolidated Rail Corporation made 728000 square feet (67,633.4 m²) of the tower its corporate headquarters. Since being bought by Norfolk Southern and CSX Transportation, Conrail and CSX now share about 5000 square feet (464.5 m²) in the tower. Today Two Commerce Square has become a center of accounting and consulting
Management consulting
Management consulting indicates both the industry and practice of helping organizations improve their performance primarily through the analysis of existing organizational problems and development of plans for improvement....
firms, the largest of which is PricewaterhouseCoopers
PricewaterhouseCoopers
PricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
, which occupies 215000 square feet (19,974.2 m²). Occupying the tower since its 1992 opening, professional services firm Ernst & Young LLP
Ernst & Young
Ernst & Young is one of the largest professional services networks in the world and one of the "Big Four" accountancy firms, along with Deloitte, KPMG and PricewaterhouseCoopers ....
leases 115000 square feet (10,683.8 m²) of the tower. Other related firms include Delaware Investments which leases 125000 square feet (11,612.9 m²) and Grant Thornton LLP. Other tenants also fill the tower, these include Leaf Financial Corporation, which leases the 14th and 15th floors; Reliance Standard Life Insurance Co., which leases 130000 square feet (12,077.4 m²); and engineering firm McCormick Taylor, which occupies 60000 square feet (5,574.2 m²). In 2010, multimedia company Wolters Kluwer
Wolters Kluwer
Wolters Kluwer N.V. is a global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors...
moved into 75000 square feet (6,967.7 m²) on the third and fourth floors, raising Two Commerce Square's occupancy to 91 percent.