The half-vacant One South Broad office tower in Center City is up for sale as its owner, Aion Partners, nears the end of an extended mortgage forbearance.
The 25-story, 463,988-square-foot property—home to Insomnia Cookies’ headquarters—is being marketed by Newmark as a lease-up or residential conversion opportunity. Aion secured a two-year CMBS loan extension in 2023 to avoid receivership, but a recent servicer note indicates the forbearance ends June 1, ahead of the loan’s maturity in September 2025.
A sale of the 93-year-old building could offer a path forward.
*Article courtesy of Philadelphia Business Journal
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