Parkview Tower, a 10-story, 221,000-square-foot office building in King of Prussia, is slated for a sheriff’s sale on July 30, according to a notice from the Montgomery County Sheriff’s Office. The auction will be held via the online platform Bid4Assets. The property, owned by West Conshohocken-based real estate firm Keystone, is tied to a commercial… Read more »
Just over a month ago, 401 Market St. appeared rock-solid on paper: the 484,643-square-foot building was fully leased, generating record revenue and strong cash flow, with a mortgage in good standing and over a year left before maturity. But in October, Wells Fargo’s lease on 349,770 square feet expired, dropping occupancy from 100% to 28%… Read more »
Philadelphia officials anticipate a substantial decrease of approximately $1 billion in the total assessed value of office buildings throughout the city, attributed to financial challenges faced by property owners and escalating vacancy rates. Finance Director Rob Dubow highlighted the necessity of accounting for these declining valuations in Mayor Cherelle Parker’s proposed budget for fiscal year… Read more »
