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May 15, 2019  

Downtown Phila. Offices Up for Grabs

A joint venture is marketing a well-leased boutique office building across from Philadelphia’s City Hall.The 244,000-square-foot property, at 30 South 15th Street, is valued at roughly $60 million, or $246/sf. At that price, the buyer’s initial annual yield would be 6%. HFF is representing the owners, Grasso Holdings of Philadelphia and C-III Capital of New York.The occupancy rate is 95%, and the weighted average remaining lease term...

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