Philly sale tops $110M

UrbanAmerica LP recently sold a 435,352-square-foot office building in Philadelphia, Pa., for $110.5 million.

Pro-Med Market LLC purchased the 18-story building, located at 3535 Market St., for $254 a square foot.

Tenants at the time of sale included University of Pennsylvania, Children's Hospital of Philadelphia and FedEx Kinkos.

UrbanAmerica purchased the property in December 2002 for approximately $80 million and invested in significant capital improvements to attract and retain its current tenant base.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.