Glaxo said Tuesday it has signed a 15-year lease for an $81 million building in the Navy Yard Corporate Center in South Philadelphia.
The 205,000-square-foot facility is being designed to be environmentally friendly. Officials say construction will start this summer. The four-story building will open in late 2012 or early 2013.
Since the Navy officially closed the 1,200-acre waterfront yard in 1995, it has become a mixed-use office and research and industrial park.
GlaxoSmithKline is a major maker of vaccines and prescription drugs.