PHILADELPHIA-Locally-based PMC Property Group is reportedly looking to acquire the Marketplace Design Center complex here.
Multifamily developer PMC, backed by Philadelphia-based real estate investment firm Lubert-Adler, is the second major Philadelphia real estate firm that has sought to acquire the 490,000-square-foot complex in less than a year. PMC's interest in the property was reported by the Philadelphia Business Journal. PMC owns a host of multifamily properties in Philadelphia
In 2013, Bart Blatstein's Tower Investments had sought to acquire the Marketplace Design Center, but in November announced it had decided not to pursue the purchase.
The Marketplace Design Center is comprised of two buildings, including the 370,000-square-foot 2400 Market St. and the six-story, 120,00-square-foot 12 S. 23rd St. building. See story in the Philadelphia Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
