PHILADELPHIA−There is space available at the SEPTA building here for the first time in more than a decade. Flynn Company has been named as the leasing agent for the entire top floor of the 20-story tower, the whole 3rd floor and part of the 18th floor.
The Southeastern Pennsylvania Transportation Authority – SEPTA – bought the 675,000-square-foot building at 1234 Market Street in 1993 and fully renovated it. SEPTA continues to occupy part of the building.
Michael Gallagher, Brendan Flynn and Doug Himmelreich of Flynn's Center City team will be leading the marketing and leasing efforts for the available space:
- 33,000 square feet with panoramic views on the 20th floor
- 10,000 square feet on the 18th floor
- 35,000 square feet with views over Market Street on the 3rd floor.
The brokers are promoting SEPTA's environmental-efficiency and energy-conservation programs at the building, including the fact SEPTA is now pursuing a Green Globe designation.
Gallagher, a partner with Flynn, said, “The combination of the building's energy efficiency, strong capitalization, commitment of ownership and its location in the heart of the emerging Market East submarket make it a unique opportunity for small or large companies.”
He said that the reversal of a long-time trend is now in full swing: Suburban companies are looking to relocate into Center City and firms already there have begun moving east of Broad Street for more competitive rents.
Gallagher said 1234 Market Street offers the amenities the “urban-centric employee base” of many companies requires today:
• Excellent access to public transportation. The building has direct access to SEPTA's regional rail Station at Market East for commuter rail, subway, trolley and Market-Frankford El service.
• Restaurants and nightlife. The SEPTA building is a block from 13th Street's restaurant row, as well as the Reading Terminal Market.
• Apartments, shopping and city convenience: The building is directly across from Macy's, a block from City Hall. Within the neighborhood, Century 21 is the anchor tenant for redevelopment of The Gallery; multi-family and mixed-use projects including the Brickstone, the 1100 block of Chestnut Street and Girard are under way in the neighborhood.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
