Philadelphia Inquirer Inks Long-Term Lease for New Headquarters

The Philadelphia Inquirer has signed a long-term lease at 100 Independence Mall West for its new headquarters, which is set to accommodate increased hybrid and remote work.

The 193-year-old newspaper is set to occupy 36,744 square feet on the sixth floor of 100 Independence Mall West, a 419,175-square-foot office building owned by Keystone Development + Investment that is now 97% leased.

“This move underscores our commitment to Philadelphia and our work by putting The Philadelphia Inquirer in the most historic setting in the country,” Inquirer Publisher and CEO Lisa Hughes said in a press release. “We are eager to be in our new space, which we are designing to allow us to collaborate in new and innovative ways.”

*Article courtesy of Costar

For more information about Philadelphia office space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

UK digital media company picks Philadelphia for U.S. headquarters

Philadelphia

Hybrid, a United Kingdom digital media firm that counts Thomas Jefferson University among its biggest clients, has selected Philadelphia for its U.S. headquarters and plans to grow the new office to 80 employees over the next two to three years. 

After the company conducted an analysis of cities that considered a variety of factors including business friendliness and ability to recruit talent, the firm narrowed its search down to Philadelphia and Boston. Both cities are in proximity to clients and had other characteristics that appealed to the company but Hybrid ultimately selected Philadelphia.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia office space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Space at 801 Market St. housing new Giant Heirloom Market sells for hefty profit

An entity affiliated with Alterra Property Group has sold a commercial condominium housing a new Giant Heirloom at 801 Market St. in Philadelphia for $21.63 million. 

The entity, 801 Market Partners LLC, sold the 32,000-square-foot space to Realty Income Trust of San Diego (NYSE: O). 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia office space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

WCRE Completes/-3,468 SF Office Space in Philadelphia

Center City Return to Work

WCRE is proud to have exclusively represented Sadek & Cooper, in the leasing of 3,468 square feet of office space located at Two Penn Center, 1500 JFK Blvd., Philadelphia, PA from Crown Two Penn Center Associates, LLP an entity controlled by ASI Management.

Sadek & Cooper is a multi-disciplinary law firm specializing in both Family Law and Bankruptcy. Sadek & Cooper offers an array of services to individuals who are seeking bankruptcy solutions to their debt problems. Their lawyers provide individuals a meticulous analysis of their client’s options in numerous areas; Chapter 11, Chapter 13, Mortgage Foreclosure, Student Loan Debt Relief, Tax Foreclosure and related areas of debt relief.

Two Penn Center is a Class “A” twenty story, 540,000 square foot office building at 1500 JFK Blvd.  Two Penn is directly across the street from Love Park providing tenants direct access to the recently renovated and iconic Philadelphia Park.  Two Penn also sits directly above Suburban Station and offers direct access to the Concourse, allowing employees to make the trip from desk to train in 5 minutes or less.  Built in 1960, Two Penn has undergone major renovations to the lobby and common areas and is professionally maintained.  Two Penn has numerous tenants who provide professional services in the fields of law, financial services, marketing and technology.

Todd Monahan, Executive Vice President and Managing Director at WCRE exclusively represented the tenant in this transaction.

Rawle & Henderson to relocate Philadelphia headquarters, reduce its office space by half

Chubb Ltd. Offices for Philadelphia

Rawle & Henderson will cut its office space in half when it relocates its Philadelphia headquarters from the Widener Building to 1500 Market St. next year. 

The venerable litigation defense firm has been located in the Widener Building at 1339 Chestnut St. since 1989. It will be moving into parts of two of the six floors vacated at 1500 Market by mortgage insurer Radian Corp. (NYSE: RDN).

Rawle will be taking all of the 19th floor (28,009 square feet) and part of the 20th (8,187 square feet) for a total of 36,196 square feet. That compares to 69,420 square feet it currently occupies at the Widener Building. 

The move will take place when the firm’s current lease expires in April 2023. It plans to sublease space from Radian, beginning May 1, 2023 and ending July 31, 2032. That is the remainder of Radian’s lease agreement at 1500 Market.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia office space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Rubenstein Partners makes headway on $50M Chesterbrook repositioning

Three years after buying Chesterbrook corporate park and its 1.1 million square feet of office space, Rubenstein Partners is making progress on a $50 million repositioning of the suburban campus. 

The Philadelphia real estate firm spent $10 million converting a vacant, 41,331-square-foot office building at 851 Duportail Road to house a fitness center, conference space, game room, café, indoor and outdoor lounge areas, and coworking. It is among the biggest additions under its plan to upgrade and lease vacant space in the office park. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia office space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Brandywine Realty puts 1900 Market St. up for sale

Chubb Ltd. Offices for Philadelphia

Ten years after buying 1900 Market St. in Philadelphia for $34.8 million, Brandywine Realty Trust has put the 456,922-square-foot building up for sale. The building, which is fully leased, could potentially trade for an estimated $200 million. 

The 8-story building will test investor interest in Center City office buildings, an asset class that has lost some luster during the pandemic for a variety of reasons including general uncertainty of future office use and downtown vibrancy. Many investors have also turned their attention to life sciences, industrial and multifamily properties. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia office space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Four-Story Office Space for Sale in Philly on Locust Street

1200 Locust Street Philadelphia PA

Wolf Commercial Real Estate, a leading Philly commercial real estate brokerage firm with expertise in Philly commercial real estate listings and services, now has available Philly office space for sale in a four-story building at 1200 Locust Street Philadelphia PA.

Please call for the asking sale price of this office space for sale in Philly at 1200 Locust Street Philadelphia PA. For additional information, contact Wolf Commercial Real Estate, a Philly commercial real estate broker that specializes in Philly commercial real estate listings and services.

This Philly office space for sale at 1200 Locust Street Philadelphia PA is in the heart of Center City Philadelphia. In addition, this office space in Philly is an income-producing property with a tenant currently in place.

The medical facilities available at this Philly office space for sale at 1200 Locust Street are an operating room, multiple private offices, multiple exam rooms, and two reception areas. Also ideal for professional offices, this Philly office space is available through Wolf Commercial Real Estate, a Philly commercial real estate brokerage firm that specializes in Philly commercial real estate listings and services.

Nearly 77.000 Philadelphians live within a one-mile radius of this Philly office space for sale at 1200 Locust Street Philadelphia PA through Wolf Commercial Real Estate, a Philly commercial real estate broker that specializes in Philly commercial real estate listings and services. The average household income in the same five-mile radius of this office space for sale in Philly is $83,294.

For more information about this Philly office space for sale at 1200 Locust Street Philadelphia PA, or about any other Philly commercial properties for sale, please contact Sean Kelly (856-630-5806; sean.kelly@wolfcre.com) or Phil Costa (215-799-6195; phil.costa@wolfcre.com) at Wolf Commercial Real Estate, a Philly commercial real estate brokerage firm.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philly commercial real estate broker that provides a full range of Philly commercial real estate listings and services, property management services, and marketing commercial offices, office properties, industrial properties, land properties, medical buildings, and other Philly commercial properties for buyers, tenants, investors, and sellers. Please visit our websites for a full listing of Philly commercial properties for sale through our Philly commercial real estate brokerage firm.

Philadelphia Electrical & Technology Charter School buys former United Way building on Parkway

Charter School, Philadelphia

Philadelphia Electrical & Technology Charter School has paid just over $14 million for 1709 Benjamin Franklin Parkway in Center City and is spending roughly the same amount to renovate the 68,000-square-foot building in time to move in this fall.

The seller was Pearl Properties, a Philadelphia real estate company that bought the building from the United Way in 2018 for $10.85 million.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia office space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Brandywine Realty joint venture closes on $383M deal for IRS-leased building in University City

Brandywine Realty Trust has closed on a $383 million joint venture with two investors to purchase Cira Square, an 863,000-square-foot building in the University City neighborhood of Philadelphia that is leased to the Internal Revenue Service through 2030. 

Aside from Brandywine, the investors were not disclosed in Brandywine’s first quarter results late Wednesday but sources say one of them is MSD Partners, a New York firm that oversees investments for Michael S. Dell, the billionaire founder of computer giant Dell Corp., as well as other investors. 

*Article courtesy of Philadelphia Business Journal 

For more information about Philadelphia office space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.