Philadelphia Retail Condos Up for Sale
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PHILADELPHIA-IStar Financial has placed two retail spaces at 10 Rittenhouse Square in Center City on the market for sale. The Serafina restaurant and Barney's New York have occupied the spaces in front Rittenhouse Square under long-term leases. Jones Lang LaSalle is handling the listing of the commercial condos attached to the $300 million luxury condominium tower. The retail condos have received interests from pension fund advisers as well as from high-net-worth, international and institutional investors.
According to familiar sources, the properties could fetch roughly $17 million. For the full story, go to Philadelphia Business Journal .
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For an irreverent look at the ups and downs of the retail industry, check out Counter Culture authored by GlobeSt.com Editor, Ian Ritter.
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