Tuesday, June 19, 2012

Walnut Place Set for Redevelopment

312 Walnut Street Associates acquired the six story property known as Walnut Place for $5.1 million, or about $74 per-square-foot.

The property was sold by as a joint venture of The 320 Company and The Archdiocese of Philadelphia. It has a land area of 269,780 square feet and was constructed in 1926. The interior improvements have been demolished and removed leaving an open lay-out plan. The buyer plans to redevelop the property into a multi-family building.

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