The building was originally conceived by the Reading Company while in a state of bankruptcy as a way to capitalize on its real estate holdings in Center City.

Reading was granted development rights for the building along with a large parking complex in exchange for granting the city easements for developing the Jefferson Station (then Market East Station) entrance in the ground floor of the adjacent Reading Terminal.

The building was designed by Bower Lewis Thrower (BLT) Architects of Philadelphia.

In 2018, Aramark vacated the building when the company relocated its headquarters to 2400 Market Street.

[3] Thomas Jefferson University occupies 14 floors of the 32 story building, which was renamed Jefferson Center.