PHILADELPHIA-Stockton Real Estate Advisors has been tabbed to lease up the vacant space at the Penn Mutual Towers complex here.
The 900,000-square-foot complex that overlooks Independence Hall is in receivership. Onyx Equities, the receiver for Penn Mutual Towers, plans to rebrand the property and make some upgrades to the property, including its lobbies and common areas, to make it more attractive to potential purchasers, according to the Philadelphia Business Journal.
Beneficial Bank is planning to vacate 100,000 square feet of space it leases at Penn Mutual Towers next March, which will bring vacancies to approximately 200,000 square feet. Bill Luff, Mike Dolan and Jim Paterno of Stockton Real Estate are handling the Penn Mutual Towers leasing assignment. See story in the Philadelphia Business Journal.
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