MLP Sells 3 King of Prussia Buildings to Seyon Group

Seyon Group buys 3 King of Prussia buildings from MLP for $17.5M
Three buildings in Renaissance Park, including Conshohocken Brewing Co.’s King of Prussia location, sold for $17.5 million. The buyer was Seyon Group, a Boston-based investor expanding its Philadelphia-area portfolio. MLP Ventures, led by Brian O’Neill, served as the seller.

The properties total roughly 100,000 square feet. They include 3600, 3602 and 3100 Horizon Drive. Conshohocken Brewing Co. operates within the building at 3100 Horizon Drive. Additionally, MLP acquired these assets in 2018 as part of a larger 14-building, $77 million portfolio purchase.

Montgomery County records show three separate transactions. The 42,500-square-foot building at 3100 Horizon Drive sold for $7.41 million. The 35,210-square-foot building at 3600 Horizon Drive sold for $6.07 million. Finally, the 22,746-square-foot building at 3602 Horizon Drive sold for $4.02 million. Each sale approached $175 per square foot, outperforming the third-quarter average of $159 for buildings larger than 20,000 square feet.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

KPMG Expands Philly Office

KPMG adds to Philadelphia office space

KPMG will add another full floor at 1735 Market Street as the firm responds to rising client needs and growing in-office activity. Office attendance in Philadelphia has increased 56% since 2023, and demand continues to climb.

The expansion will increase KPMG’s footprint by 25%. The firm will grow from 97,000 square feet to 122,000 square feet. This move reverses last year’s decision to shrink its office space by 38% when it relocated from 1601 Market Street to 1735 Market in June 2024.

KPMG currently subleases the third, fourth, and sixth floors from WTW (formerly Willis Towers Watson), which relocated to 1900 Market Street. However, this new agreement marks a shift. KPMG has now signed a direct, long-term lease with building owners Silverstein and Arden Group for the seventh floor.

The firm did not disclose the exact lease duration, although it confirmed the term aligns with the existing sublease period.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Jefferson Puts up Center City Building For Sale

Jefferson University has put a 10-story Center City building on the market

Thomas Jefferson University has put a 10-story Center City building on the market. The property sits at 919 Walnut Street and totals about 136,000 square feet. Jefferson is asking $13.5 million, which equals $99 per square foot.

The building currently carries a university-use designation. However, it sits in a CMX-5 zoning district, Philadelphia’s least restrictive zoning category. As a result, the site allows residential, commercial, and other mixed uses.

According to the listing from Greenwood CRE, the property offers a rare chance for investors to reimagine a historic building in a prime urban location. Built in 1910, the structure is mostly vacant. The listing also categorizes it as an “owner user” opportunity.

Even so, the property can support many possibilities. Potential uses include residential, office, hospitality, retail, or institutional development.

Jefferson bought the building in 2013 for $13 million, according to public records. University representatives did not return requests for comment.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Philadelphia Lags Behind Major Markets

Philadelphia Lags Behind Major Markets

Philadelphia continues to trail most major U.S. markets in the absorption of large-block office space, with availability declining by only 1.6% from its peak. This modest reduction — representing spaces of 100,000 square feet or more in Class A buildings — underscores the region’s sluggish leasing activity compared to other thriving cities.

Among major metros, only Denver posted a smaller decline at 1.3%, while high-performing markets recorded sharp improvements. San Jose leads the nation with a 35.5% decrease in big-block availability, followed by Atlanta (18%), Austin (15.5%), and Los Angeles (13.8%). Even East Coast peers outpaced Philadelphia: New York and Chicago each saw 12.8% reductions, and Boston improved by 7.1%.

The disparity highlights Philadelphia’s ongoing challenge to attract large corporate tenants driving growth elsewhere. Markets like Austin and Atlanta have benefited from corporate relocations, tech-sector expansions, and major consolidations. Austin’s success, for example, reflects moves by Oracle and Tesla, while Atlanta’s strong performance is tied to major leases by Microsoft, Google, and Visa, each occupying hundreds of thousands of square feet.

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

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Brandywine Realty Expands Ownership Amid Growing Office Demand

Brandywine Realty Expands Ownership Amid Growing Office Demand

Office tour activity is gaining momentum in Philadelphia as tenants seek larger, higher-quality spaces. Reflecting renewed confidence in the market, Brandywine Realty Trust has acquired its joint venture partner’s stake in the mixed-use tower at 3025 John F. Kennedy Blvd., investing $70.5 million to become the sole owner.

The 570,000-square-foot property, featuring both office and residential space, marks another step in Brandywine’s optimism about the office sector’s recovery. “Our pipeline activity continues to grow, tour volume remains at very healthy levels, and rent levels are in line with our business plan,” said CEO Jerry Sweeney.

Completed in 2023, the 28-story tower’s 200,000-square-foot office component is part of Brandywine’s Schuylkill Yards development and continues to draw strong tenant interest for its premium, amenity-rich environment.

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

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Brandywine Takes Full Ownership of 3025 JFK Blvd

Brandywine pays $70.5M for partner’s stake in University City building

Brandywine Realty Trust has acquired full ownership of 3025 John F. Kennedy Blvd. in University City after purchasing its joint venture partner’s remaining stake for $70.5 million. The deal gives Brandywine complete control of the 570,000-square-foot mixed-use tower.

The Philadelphia-based REIT previously held a 66% interest in the recently completed property, with a global institutional partner owning the remainder. Brandywine declined to disclose the name of its former partner but confirmed it also assumed its share of the property’s debt as part of the transaction.

Located just west of 30th Street Station, the 28-story tower includes 326 luxury apartments on the upper floors and 200,000 square feet of modern office space on levels two through eight, with a shared amenity floor on level nine. The total project cost reached $325 million, according to Brandywine.

The acquisition underscores Brandywine’s continued commitment to its Schuylkill Yards master plan, transforming the University City district into a vibrant live-work-play destination.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

$43M Foreclosure Brings 1650 Arch Street to the Auction Block

$43M Foreclosure Brings 1650 Arch Street to the Auction Block

The foreclosure saga surrounding 1650 Arch Street in Center City appears to be approaching its conclusion.

1650 Arch Investor LP, an affiliate of ASI Management and owner of the 553,000-square-foot office tower, is slated for public auction on November 5. According to a published notice, bidding will take place both online and in person at the New York Supreme Court building in Manhattan.

The property, which is currently about half vacant, has been in receivership since July following a foreclosure complaint filed in June in the Philadelphia Court of Common Pleas.

An affiliate of Delphi Financial Group originally provided a $75.8 million loan to ASI Management in 2018, later extended two years to July 2024. However, the borrower failed to pay off the debt by the maturity date, leaving an outstanding balance of approximately $43 million, according to the auction notice.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Archdiocese of Philadelphia Relocating to Three Parkway

Archdiocese of Philadelphia Relocating to Three Parkway

The Archdiocese of Philadelphia is preparing to relocate its headquarters, signing a long-term lease for 80,000 square feet at Three Parkway, just a block from its current Center City location.

The archdiocese, which has occupied its 13-story, 137,000-square-foot building at 222 N. 17th Street since 1971, cited $25 million in deferred maintenance costs and underutilized space as the main reasons for the move. “Financially, this will make sense for the archdiocese. It will be a cost savings,” said spokesperson Ken Gavin.

The new offices will occupy the 10th through 12th floors of the 20-story Three Parkway tower at 1601 Cherry Street. The transition is expected to take place in spring 2026.

At its peak, the current headquarters housed roughly 450 employees, but the workforce has since declined to around 250 through layoffs and attrition. The upcoming move represents a 42% reduction in office space, aligning the organization’s footprint with its streamlined operations.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Eight Tower Bridge Sells for $83.1M

Eight Tower Bridge office tower in Conshohocken sells for $83.1M

The 16-story Eight Tower Bridge office building in Conshohocken has been sold for $83.1 million, representing a 23% decline from its last sale in 2018. The 347,000-square-foot tower was purchased by a partnership between FLD Group of Eatontown, NJ, and New York’s Adjmi family, from American Real Estate Partners (AREP).

AREP previously acquired the property for $108 million from a partnership involving Cornerstone Real Estate Advisors and developer Oliver Tyrone Pulver, who built the tower more than 20 years ago.

The new owners, who have been expanding their Philadelphia-area portfolio with recent acquisitions of Bala Plaza and the Plymouth Meeting Executive Campus, plan to maintain the property as office space. The building is currently 94% occupied, reflecting its strong tenant base despite regional office market challenges.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Starr Insurance Expands Philadelphia Office Footprint

Starr Insurance expands Philadelphia footprint by 66% with office move

Starr Insurance is set to significantly expand its presence in Center City Philadelphia, leasing the entire 31,600-square-foot top floor of 30 S. 17th Street, also known as Duane Morris Plaza. The move represents a 66% increase in space for the New York-based insurance and investment firm, which currently occupies about 19,000 square feet at 1601 Market Street, less than a block away.

According to Savills’ quarterly market report, the lease marks one of the first major deals at the 20-story tower since Oaktree Capital Management, the building’s Los Angeles-based owner, announced plans for lobby renovations and system upgrades. The improvements coincide with Duane Morris LLP’s long-term lease renewal, which included a 45,000-square-foot downsize. The law firm will retain 195,000 square feet and continue as the building’s anchor tenant with naming rights.

Starr Insurance, which reported $11.9 billion in gross written premiums and $41.1 billion in total assets as of December 31, plans to relocate to its new space in the summer of 2026.

“We’re looking forward to moving to accommodate our growing local employee base and provide them with a top-level office environment close to our key distribution partners,” said Hunter Hoffman, Starr’s Chief Marketing Officer.

The transaction highlights renewed leasing momentum in Center City, as companies seek high-quality, amenity-rich office environments that support collaboration and long-term growth.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.