Save the date: RealShare Philadelphia comes to the Crystal Tearoom in Philadelphia on March 7.
PHILADELPHIA- The 29-story 2000 Market St. tower is about to be sold for $110 million to a New Mexico company, according to the Philadelpha Business Journal.
The building was last sold three years ago in the thick of a flailing economy. CB Richard Ellis Investors, a part of CBRE Inc., bought the building from its mortgage holder, Prudential Life Insurance, at a deep discount after previous buyer RREEF handed it back to the lender in November 2009.
Over the past three years, CBRE Investors put $25 million intp upgrading the common areas in the building and creating an onsite conference center.
The 665,000-square-foot building is now 96% occupied, up from 80%, at the time of the last sale.
The new buyer is reportedly Rosemont Realty of Santa Fe, NM.
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