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NEW YORK CITY-Troy, MI-based Hayman Co. and the Royalton Investment Group have closed on the first in a series of joint-venture acquisitions of national commercial real estate investments. Atlantic Investors LLC has acquired The Atlantic Building at 260 Broad Street in Philadelphia.

The recently restored Atlantic Building is a 21 story, 320,000-sf, office and retail building located in the heart of Center City. The building’s ground floor is home to two of Philadelphia’s major restaurants, Ruth’s Chris Steak House and Neil Stein’s Avenue B Restaurant. The office component has moderate-size floor plates–15,537 sf– unique to Philadelphia’s office market, Hayman officials say.

“We are excited about the long-term stability that the property represents due to the diversified and strong tenant roster,” says Andrew Hayman, vice president of Hayman.

Major tenants include Philadelphia Health & Management Corp.; Klehr, Harrison, Harvey, Branzburg & Ellers, LLP; the Philadelphia Orchestra; DMJM+HARRIS a division of AECOM, and architecture firm, Agoos/Lovera.

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