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

Attributes

Year Built 1948
Building Area
Occupancy 100.0 %

Property Description

Originally built in 1960 by award-winning architects Clarence S. Thalheimer & David D. Weitz, 1626 Locust Street was completely renovated in 2019 and and is located in Rittenhouse Square, where the median home value within a half mile radius is $467,531 and over 79% of its residents have a Bachelor's degree or higher. The Property's premier location offers qualified investors the rare opportunity to acquire an asset that provides stable, long-term cash flow with irreplaceable underlying real estate.

Investment Highlights

Holliday Fenoglio Fowler, L.P (“HFF”), has been retained on an exclusive basis to arrange the sale of 1626 Locust Street (the “Property” or “Offering”), a 48,069 square foot, class A single tenant office property located in the heart of Rittenhouse Square, Philadelphia’s most sought after and prestigious neighborhood. The Offering is 100% net leased to Regus’ creative office subsidiary, Spaces. Built in 1960 and completely renovated in 1989 and again in 2019, to the most forward looking office design in the market today, 1626 Locust Street offers qualified investors 12+ years of secure income with annual rent escalations and minimal landlord responsibility. This long term lease has a corporate guarantee from Regus, one of the first companies to offer shared office spaces and the world's largest provider of flexible work solutions.
Doug Rodio
Senior Managing Director
Brett Segal
Brett Segal
Managing Director, Capital Markets
License details
PA-RS322575

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