Chubb Center — 2000 Arch Street

Philadelphia hasn’t opened a ground-up office tower of this size in years, and it may not open another for a while. Chubb Center topped off its fit-out and welcomed employees in April 2026, an 18-story, 438,000-square-foot building at 20th and Arch that Parkway Corporation developed as a single-tenant home for Chubb Limited. Roughly 2,250 employees work there. The building was fully occupied on day one, which is not how most of the post-2020 office cycle has gone.

Project Scope

The tower rises 18 floors on a Center City block at 2000 Arch Street, immediately west of Logan Square. Turner Construction built it. Thornton Tomasetti handled structural engineering, and the design team paired L2P with Stantec. Floor plates were laid out for a single occupant rather than a multi-tenant stack, which let the team run continuous circulation and shared amenity space through the building instead of splitting it at every level. The project earned LEED-CS Platinum certification, and the envelope and systems were tuned for a carbon footprint well below the class average for a tower this size.

Chubb had been consolidating Philadelphia operations across older leased space. The new building pulls those groups onto one campus and gives the insurer its largest North American office.

Why It Matters

Build-to-suit is carrying what’s left of the downtown office pipeline. Speculative towers stopped penciling in most U.S. central business districts around 2023, and lenders have shown little appetite since. What still gets financed is a building with a signed corporate anchor covering most or all of the space before a shovel goes in the ground, and Chubb Center is a clean example of that structure working in a market with elevated vacancy elsewhere.

The building also lands as Philadelphia works through a broader Center City repositioning. Older Class B stock nearby is being studied for residential conversion, a process that has proven harder and riskier than early proponents suggested. A new tower with a committed occupant at full LEED Platinum performance sets a comparison point for what tenants can now expect, and it raises the bar that aging inventory has to clear to stay leasable.

Project Team & Details