Jefferson buys Milkboy location on Chestnut St. for $2.1M

Center City restaurant, cafe and live-music venue Milkboy has a new landlord: Thomas Jefferson University Hospitals.

The health-care network purchased the 1100 Chestnut St. building occupied by the popular spot last week for $2.1 million, according to Tom Lussenhop, president of Philadelphia developer U3 Ventures, which sold the property.

A U3 affiliate bought the two-story, 3,330-square-foot building in 2007 for $2 million, according to records filed with the city.

Jefferson spokeswoman Jacqueline Kozloski did not immediately respond to a message asking about its plans for the property.

Brendan Flynn, the Flynn Co. broker who listed the property, said in a LinkedIn post concerning the sale that the Center City commercial zoning had generated buyer interest. Such zoning could permit higher construction.

Milkboy has 15 years remaining on its lease at the building, co-owner Bill Hanson said.

The property is at the east end of a block in which Brickstone Cos. is building a large mixed-use project anchored by a Target store and a smaller office building-restaurant development.

Source: Philly.com