A Florida real estate company has put 1515 Market St.
under agreement for roughly $85 million, or $170 a square foot, according to
sources familiar with the transaction.
Accesso Partners of Hallandale Beach, Fla., will be
entering the Philadelphia market when it closes on its purchase of 1515 Market.
The building was expected to trade for roughly $85 million.
Accesso used to be known as Beacon Investment Properties
and it targets commercial office building in cities and suburbs throughout the
United States.
The 20-story office property totals 502,000 square feet
and has Temple University as a long-term anchor tenant. The university occupies
nearly 128,000 square feet, and the school recently renewed its lease to occupy
its space through June 2022. Other tenants include Sweeney & Sheehan,
Heffler Radetich & Saitta and the state of Pennsylvania. It is 87 percent
occupied.
The building has 15,189 square feet of retail space.
JLL is arranging the transaction.
Source: Philadelphia
Business Journal
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