Amerimar Group Plans $70M Renovation at 401 N. Broad St.

PHILADELPHIA—The new ownership of the 401 N. Broad St. building in Center City will be moving forward with its planned $70-million renovation as it tries to lease up the vacant space at the telecommunications building.

Amerimar Enterprises and its partners are planning a multi-phased interior and façade improvement initiative at the data center building and have also hired Cushman & Wakefield to lease up approximately 300,000 square feet of vacant space at the 11-story, 1.3-million-square-foot property, according to the Philadelphia Business Journal. Most of the vacancies were non-related data companies that moved out of the property.