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Columbia Property Trust completed a significant repositioning of the campus in advance of the sale. Those efforts helped drive 460,000 square feet of leasing at the property since early 2017, replacing the original anchor tenant with no downtime and returning the full property to 100% leased.
The property offered "a great opportunity for investors to buy a core-plus building at an attractive basis with upside in one of the best locations in Center City Philadelphia," says HFF's Mark Thomson.