Posts Tagged: Office

Stalwart Equities Acquires Northeast Philadelphia Office for $21M

Stalwart Equities Acquires Northeast Philadelphia Office Property for $21M

A Brooklyn-based investment firm has acquired a fully leased Northeast Philadelphia office building for $21 million, according to public records. The 130,000-square-foot property, located at 13000 Townsend Road, is currently occupied by the U.S. Department of the Treasury’s Bureau of the Fiscal Service, which recently extended its lease for an additional five years through late… Read more »

Chubb Puts Old City Property on the Market

Chubb Listing Old City Office For Sale

Chubb has listed its 330,000-square-foot office building at 436 Walnut St. in Old City as it prepares to relocate to its new headquarters next year. Located at the southeast corner of 5th and Walnut streets, just a block from Independence Hall, the 12-story property is zoned CMX-4, allowing for a mix of residential and commercial… Read more »

Power Home Remodeling Signs Major Lease

Power Home Remodeling Signs Large Lease

While many companies are downsizing, Power Home Remodeling is doubling down on in-person culture. The company has signed a 12-year, 250,000-square-foot lease at the Wharf at Rivertown in Chester — marking one of the largest office deals in the Philadelphia region since the pandemic’s shift to remote work. The lease expands Power’s footprint by 65,000… Read more »

Collegeville Office Buildings Sold at 81% Discount

Collegeville office buildings sell for less

Two largely vacant office buildings in Collegeville have changed hands for $6.2 million — representing a staggering 81% drop in value from their last sale in 2018. Located at 200 and 400 Campus Drive, the buildings span a combined 183,363 square feet and were just 15% occupied at the time of sale. The significant vacancy… Read more »

Prominent Office/Gallery Space For Lease

325 South 22nd Street Philadelphia, PA 19106

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey, has been appointed the exclusive listing agent for 325 South 22nd Street, Philadelphia, Pennsylvania. The Philadelphia property is available for lease. The property contains +/- 1,500 square feet with a big room being 975 square feet, conference room being 110 square… Read more »

Things are Looking Up for 123 S. Broad Street

Things are Looking Up for 123 S. Broad Street

While many Center City office buildings grapple with financial uncertainty and declining occupancy, 123 S. Broad St. is moving in a different direction. The 30-story, 725,000-square-foot tower is seeing renewed investment from its ownership group and a steady influx of new tenants, with a goal of reaching 90% occupancy by year’s end. The building’s ownership… Read more »

Office Park Sells for Less than Previous Sale Price

Office Park Sells for Less than Previous Sale Price

A New York real estate firm has purchased the five-building Lindenwood Corporate Center in Malvern for $23.1 million, according to property records – a 42% drop from its last sale in 2021. The 280,025-square-foot campus on Lindenwood Drive was acquired by an entity tied to Time Equities Inc. from Utah-based Bridge Investment Group. The deal… Read more »

New Apartments Coming to Center City

New Apartments Coming to Center City

Over 1,100 apartments are being developed in Center City through office-to-residential conversions. These projects address two of Philadelphia’s most urgent challenges: a high office vacancy rate and a constrained housing supply. By repurposing underutilized office space, these conversions are helping to stabilize the vacancy rate below 20% while adding much-needed housing inventory. The trend reflects… Read more »

2000 Market Street Office Tower Hits the Market

2000 Market Street Office Tower Hits the Market

The 29-story, 668,335-square-foot office tower at 2000 Market St. is officially for sale — a move that could serve as a bellwether for post-pandemic office valuations in Philadelphia’s central business district. New York-based owner Nahla Capital has listed the property, which is currently 68% leased. According to CBRE listing agent Jerry Kranzel, early interest suggests… Read more »