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PHILADELPHIA-Local developers Thomas A. Leonard and Scott Mazo are nearly ready to start a $25-million, 94,000-square-foot office building in the University City area, according to a Philadelphia Inquirer report. The investors, who are hoping for LEED Platinum certification, are waiting for the project to get 60% pre-leased before breaking ground.

The partners think they can get $30 per-square-foot rates out of the asset, which is now a vacant lot at 41st and Market streets. Financing is coming from TRF, a reinvestment fund, which has financed projects in the past for Mazo’s firm, Neighborhood Restorations.

To read the full Inquirer story, click here.

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