In late March, Equity retained Carpenter and Thomas Benezille, also in JLL's New York office, to market the entire portfolio. Transwestern paid $172.2 million for its stake in 1601 and 1700 Market St., while Equity, also based in Chicago, retains an unspecified minority interest in the towers.(For more on EOP's transactions, click here.)

Joe Concepcion, Transwestern's VP of owner representation, named the local office of Grubb & Ellis exclusive leasing agent for the two properties. Wayne Fisher, SVP and director, and Craig Scheuerle, SVP, head the G&E leasing team. Both of the properties are class A buildings, and Fisher says available suites range from 1,000 sf to 20,000 sf.

The 36-story, 681,000-sf building at 1601 Market St. is currently 95% leased, according to G&E. Among its tenants are KMPG, Swartz Campbell LLC, and Radian Guaranty Inc. It was completed in 1970.

The 32-story, 841,172-sf building at 1700 Market St. was completed in 1968. It is currently 92% leased, according to G&E. Tenants include Deloitte Touche, AIG, and Commonwealth Land Title. At the time the portfolio was put on the sales block, Todd Monahan, Equity's director of leasing for the buildings, told GlobeSt.com the asking rental rate was $22 per sf, and a G&E spokesman says the asking rates are unchanged.

Calling the buildings "high quality assets in outstanding locations," Kevin Hites, Transwestern's SVP of acquisitions, says in a statement, "These two office buildings are ideally suited to our acquisition criteria."

Instant Insights /

GlobeSt.com UPDATE: Transwestern Buys Into Center City Office Market

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