Healthcare

Philadelphia CBD Development Opportunity

245 N 15th St Philadelphia, Pennsylvania United States 19102-1101
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1938
Building Area

Property Description

JLL is pleased to exclusively offer for sale the fee simple interest in the Philadelphia CBD Development Opportunity (the “Property”, “Properties” or “Opportunity”) located in Philadelphia, Pennsylvania. The Property provides a generational opportunity to reshape the landscape of the northern entry to the CBD of the 6th largest city in the United States, by redeveloping the largest contiguous developable block in the city. The combined 3.26 acre Property is located in the Logan Square neighborhood of Center City, and is bound to the east by Pennsylvania Route 611 (Broad Street) with 36K vehicles per day and to the north, by Interstate 676 (Vine Street) with 60K vehicles per day, adjacent to the Philadelphia Convention Center, and just blocks from both Philadelphia’s City Hall and Comcast’s world headquarters. The Properties are located along Broad Street, among Philadelphia’s most prominent avenues, which provides exceptional visibility and accessibility.


The Property is currently improved with 1,063,285 SF over 5 buildings and a 848-space parking structure. Flexible zoning allows for the construction of up to an additional 607,255 SF, or an increase of 57% of the total square footage, without any zoning reclassification or variances. The Property can be utilized for a wide range of uses including multi-family, office, retail, hospitality, healthcare, and

entertainment.


The Properties are being offered free and clear of existing indebtedness, and on an as-is, where-is basis.

Investment Highlights

  • Generational development opportunity
  • Dynamic Logan Square submarket
  • Excellent accessibility and visibility
  • Flexible zoning
  • Rapid population growth
Last Updated Date: 14 Sep 2020
Fran Coyne
Fran Coyne
Director, Capital Markets
License details
NJ-1644326 PA-RS320537
Brett Segal
Brett Segal
Managing Director, Capital Markets
License details
PA-RS322575

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Last Updated Date: 14 Sep 2020

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