“We continue to see the growth of the University of Pennsylvania and Drexel University driving the demand for housing in this submarket and driving growth and redevelopment further west,” says Rittenhouse Realty's Ken Wellar.

Although the asking rent was not provided, a CoStar analyst indicated with confidence that it would be well over $100 per square foot.

Liberty expects to leverage Raiman's expertise as a real estate investor, "as we capitalize on the opportunities afforded by the industrial markets and our repositioned industrial platform,” says Liberty CEO Bill Hankowsky.

Moonwater Capital sells an office building in Summerlin at a 5.69% cap rate, significantly lower that the market average of 6.5%.