CBRE Acquires Two Class A Office Buildings in Philadelphia

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.