BROWSE BUILDINGS
More Search Options
We found 0 results. View results
SEARCH BY BUILDING
More Search Options
we found 0 results
Your search results

1835 Market St. in Center City sells for $100M

on December 11, 2014
| News

1835 Market StA partnership between Nightingale Properties and Carlton Associates bought 1835 Market St. in Center City for $100 million and it’s the latest office building to trade in Philadelphia amid a flurry of deals.

The 29-story property has 660,343 square feet of office space, 26,160 square feet of retail and a three-story, underground parking garage with 176 spaces. The building, which was once known as 11 Penn Center, was constructed in 1986. Klehr Harrison is one of its anchor tenants. Its office space is just 75 percent occupied and 159,182 square feet is vacant. CalSTRS was the seller.

The partnership was attracted to the value-add nature of the property, said Doug Rodio, an investment broker with JLL who arranged the transaction. It has bought other buildings in Philadelphia with the same strategy of investing funds to improve them.

This is the third building in Philadelphia that Nightingale of New York has taken an ownership stake. It is involved in 1500 Spring Garden with Carlton and 1700 Market St. withDavid Werner, a New York real estate investor.

The investment scene in Philadelphia has heated up. Other office properties that have recently sold or are under agreement include 1515 Market St., 1818 Market St. and Seven Penn Center and those that are up for sale include 1650 Arch St., United Plaza, 3535 Market St. and 2.0 University Place. More office buildings are expected to hit the market by year end and early next year.

Read the full article at Philadelphia Business Journal.

  • Just Listed in Philadelphia

     

Compare Buildings

Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
BrightMLS

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which The Condo Shop participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than The Condo Shop are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.
2019 BRIGHT, All Rights Reserved. Information Deemed Reliable But Not Guaranteed. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.
Data last updated: 4/21/19 3:33 PM PDT

This IDX solution is (c) Diverse Solutions 2019.