Posts Tagged: Philadelphia Commercial Real Estate Broker

$100M development in University City lines up another tenant

The Barer Institute, a collaborative cancer drug development initiative started by Rafael Holdings, Inc., intends to lease space at the planned 3.0 University Place development in University City. The institute signed a non-binding letter of intent to occupy 2,500 square feet on the fifth floor of the building that will feature 10 other suites totaling… Read more »

Exclusive: Independence Blue Cross buying Center City skyscraper 

The Barer Institute, a collaborative cancer drug development initiative started by Rafael Holdings, Inc., intends to lease space at the planned 3.0 University Place development in University City. The institute signed a non-binding letter of intent to occupy 2,500 square feet on the fifth floor of the building that will feature 10 other suites totaling… Read more »

Premier Philly Office Space to Sublease Across from City Hall

Wolf Commercial Real Estate, the leading Philly commercial real estate brokerage firm that specializes in Philadelphia commercial real estate listings and services, is offering prime Philly office space to sublease across from City Hall in 2 Penn Center at 1500 John F. Kennedy Boulevard Philadelphia PA. The asking sublease price for this office space in… Read more »

Independence Blue Cross tower in Center City goes under contract 

At the height of the coronavirus pandemic, Piedmont Office Realty Trust has managed to get 1901 Market St. under agreement for $360 million. Known better as the headquarters for Independence Blue Cross, the 45-story, 801,000-square-foot office tower was put on the market in late February and was expected to trade for an estimated $370 million. Piedmont said… Read more »

Bucks County office complex sees flurry of leases, nears full occupancy

Biohaven Pharmaceuticals Inc. has leased 21,000 square feet at Makefield Crossing to establish a new, Philadelphia-area presence, and is part of several other deals signed at the Bucks County office complex that chips away at its vacancy. Ten deals totaling nearly 100,000 square feet were signed at the Bucks County office complex, bringing its occupancy… Read more »

Center City Philadelphia Office Landlords Not Afraid to Ask for More

Given the city’s notorious wage tax and slow-but-steady pace of office leasing, Center City Philadelphia office owners aren’t used to seeing their market listed at the top of the charts in national rankings. This is particularly the case given that the list of office tenants moving into Center City, while growing, is still somewhat limited…. Read more »

Center City Outperforms the Suburbs as Philadelphia’s Office Market Enters 2020

Philadelphia’s office market rounded out a great year in 2019, with vacancies holding near 20-year lows, and rent growth clocking in at 4%. But beneath the market level statistics, a noticeable divide in performance between Center City and the suburbs exists. Urban core submarkets, including University City and Market Street West, remain well tied to emerging industries that drive… Read more »

Another Navy Yard building trades for $61.2M

As part of its divestment in office properties, Liberty Property Trust has closed on the sale of a building that houses Axalta Coating Systems Ltd.’s Global Innovation Center at the Philadelphia Navy Yard for $61.2 million. Apex Capital Management, a subsidiary of Dimah Capital of Kuwait, bought the building at 1050 Constitution Ave. The sale… Read more »

Akin Gump is taking 30,000 square feet at 1735 Market St. in Philadelphia

A year after purchasing 1735 Market St. in Center City, Silverstein Properties has landed international law firm Akin Gump Strauss as a tenant and expanded one of its long-term tenants in the office building to push the occupancy well north of 90%. Now at Two Commerce Square, Akin Gump signed a 16-year lease on 30,000… Read more »