The two 20-story towers total some 474,000 sf, and are approximately 95% leased to such tenants as Post & Schell, Insignia/ESG, Compuservices, AIG, GSA, and several large law firms. Nearby are City Hall, Amtrak's 30th Street Station, Suburban Station, Rittenhouse Square, Logan Circle and other attractions in Philadelphia's CBD.
The purchase price was in the $50 million range; the seller was not named. James Vesey and Robert Fahey of Cushman & Wakefield brokered the acquisition.
Joint acquisitions have become a regular habit for Denholtz and Zaro. Since their first joint deal a few years back, they have teamed up to buy more than 4.5 million sf of office and industrial space, most of it in New Jersey or nearby.
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