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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.
“This class A property at the front door to the historic Country Club Plaza will be a long-term investment for us," says City+Ventures' Chris Erickson.
While net lease properties offer many benefits to investors, the very nature of these assets make them difficult, at present, to qualify for the tax deferral through the Opportunity Zone program.
Portland remains a key target market for Vista as it represents a relative value compared to more mature markets of Seattle and the Bay Area, while demonstrating similar market fundamentals and demographics.