Savills Studley Represents PENN CAPITAL in Its Headquarters Relocation
Leading tenant representation services firm negotiates long-term lease for rapidly growing investment management company
Philadelphia, PA (March 16, 2016)  

Savills Studley is pleased to announce its client, Penn Capital Management Company, Inc. (PENN CAPITAL), has signed a long-term lease and will relocate its company headquarters to 1200 Intrepid Avenue in the Philadelphia Navy Yard Corporate Center.

PENN CAPITAL assessed its current 17,000 square feet space at 3 Crescent Drive in The Navy Yard Corporate Center and determined the space was not ideal for the Firm’s future growth plans. Accordingly, PENN CAPITAL engaged Savills Studley to find a suitable solution for their expanding needs. The Navy Yard’s unique urban environment, parking, proximity to Philadelphia International Airport and Amtrak’s 30th Street Station, and easy access to regional freeways and public transit were unmatched during PENN CAPITAL’s relocation assessment.

The 1200 Intrepid Avenue location is a LEED-Certified Gold building currently being built by Liberty Property Trust for a Spring 2016 delivery. Liberty is also currently constructing an upscale boutique hotel adjacent to 1200 Intrepid Avenue adding yet another amenity to the location. The architectural design by Bjarke Ingels Group of Copenhagen brings world class architecture to Philadelphia’s Navy Yard. PENN CAPITAL’s new headquarters will be expanded to 26,000 square feet and located on the top floor.

“The use of technology, including maintaining a state-of-the-art 24/7/365 infrastructure is a fundamental component of PENN CAPITAL’s business planning process,” said Marty Keane, chief technology officer. “The new building provides an excellent opportunity to make significant investments in the technology that supports our business, and enhances PENN CAPITAL’s role as an industry leader in the use of technology.”

Richard A. Hocker, PENN CAPITAL’s founder, chief executive officer and chief investment officer indicated the move to the new building reflects PENN CAPITAL’s commitment to investing in its business both for the benefit of its clients and as an opportunity to attract and retain top investment professionals. Mr. Hocker expressed his excitement for PENN CAPITAL’s “continuing partnership with the City of Philadelphia and the area trade unions in this redevelopment project“.

“PENN CAPITAL was very thorough in the firm’s review of the marketplace,” said Jay Joyce, managing director of Savills Studley, “We looked at Center City and Southern New Jersey for potential new locations.” “It’s fun and interesting to represent a client that is truly interested in only top quality solutions,” said Tim Monahan, senior managing director of Savills Studley. “The buildings, the architects, the furniture, the vendors and technology involved in this project are the best available in our regional marketplace, and it’s always a learning experience to watch each category’s best and brightest perform”.


PENN CAPITAL, founded in 1987, is a nationally recognized, 100% employee owned $6B investment management firm located in Philadelphia, PA. PENN CAPITAL maintains a fully integrated credit and equity research process and specializes in Capital Structure investing covering high yield fixed income securities, bank loans and micro-to-mid capitalization equity securities through institutional and private wealth separately managed accounts, mutual funds and private funds. For more information, please visit

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 28 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

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