Search
 

Another Waterfront Plan Looks for a Buyer

PHILADELPHIA-After obtaining rezoning for Piers 34 and 35 and alternative designs for a condo or hotel, the owner seeks a partner or fee simple sale.

By Marita Thomas | Updated on July 06, 2007

(Read more on the multifamily market.)

PHILADELPHIA-A partnership that includes some members of the group that put property and plans for Marina View Towers up for sale this February is seeking to do the same thing with a parcel it calls Penn’s Landing Tower. The Penn’s Landing property consists of Piers 34 and 35 on the Delaware River at 735 S. Columbus Blvd.

Rud Porter, director of the capital markets group in the local office of Cushman & Wakefield, who headed the marketing of Marina View Towers, is also marketing Penn’s Landing Tower. There is no asking price and Porter declines to estimate one. However, on condition of anonymity, a broker familiar with the land and the condo and hotel markets, tells GlobeSt.com, it will probably be in the mid-$20-million range.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.