PHILADELPHIA, PA—The new ownership at 2000 Market Street has plans to invest more than $7 million in major capital improvements, including new cooling towers, elevator modernization, a fire alarm upgrade, and facade restoration.
A New York-based partnership led by Nahla Capital acquired the 665,000 square-foot class A office building last year. Over the past year, Nahla has launched a capital improvement program for the building worth more than $7 million to be completed over the next three years.
“Our decision to invest in these capital improvements will increase the overall quality of the property, while continuing to attract top-tier tenants,” says Andrew Liebhafsky, director of asset management, Nahla Capital. “We plan to start with the major building systems and then move on to the common area aesthetics.”
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