In December 2002, UrbanAmerica bought the property, which is located in center of the University City Science Center Park here, for $80 million. The property then received a major capital improvement to make the space more attractive to tenants. Currently the tenant roster includes University of Pennsylvania, Children's Hospital of Philadelphia, and FedEx Kinkos.
"It's been an honor to contribute to the growth of City Science Center, and to again illustrate our commitment to the improvement and vitality of inner-city communities and educational facilities," says Richmond McCoy, UrbanAmerica president and CEO. "Through the improvement and sound disposition of assets like 3535 Market St., we are proving that institutional investment in urban communities does good and makes good financial sense."
David Monzella, UrbanAmerica's VP of acquisitions handled the sale, while CB Richard Ellis' Robert Fahey and Michael Blunt brokered the deal for the firm.
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