The Global Center earned $621,000 from leases in 2015, falling 30 percent short of its $891,000 budgeted goal, according to the Global Center’s income statement provided by the convention corporation. In 2014, it earned $360,000 in lease payments, 48 percent below the nearly $700,000 it had budgeted.
The Global Center’s manager, Philadelphia-based SMG, recently requested bids from real estate firms to help fill the building with paying tenants. County taxpayers will pick up the cost of hiring the firm.
In 2016, the Global Center hopes to earn more than $1 million from leases, according budget documents.
To its credit, the convention corporation has been demanding a more detailed breakdown between operations at the Global Center and convention space. This is giving the public more insight into how the two separate operations work.
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