PHILADELPHIA, PA —A fund sponsored by CBRE Global Investors has acquired United Plaza and 1650 Arch, two recently renovated class A buildings in Center City Philadelphia.
The 20-story, 617,476 square foot United Plaza, at 30 S. 17th Street, and the 27-story, 553,349 square foot 1650 Arch are both 94 percent leased. The buildings, which are located in the Market Street West office corridor, were constructed to above-market standards as corporate headquarters and have been extensively renovated and maintained. They feature highly efficient floorplates with minimal columns and excellent multi-tenant elevator exposure.
The team's capital plan includes implementation of CBRE Global Investors' proprietary 5-Star Worldwide service and amenity program in both buildings to further enhance their appeal. The 5-Star program will enhance the work environment for tenants by offering high-quality and service-oriented property management, concierge services and a video-linked conference center.
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