Thursday, August 22, 2013

Office Property Trades for $3.2M

Color Reflections acquired the office building at 475 N. 5th St. in Philadelphia, PA from Seamen's Church Institute of Philadelphia & South Jersey for $3.2 million, or about $97 per square foot. 

The 33,050-square-foot office building was constructed in 1960 and features a newly renovated lobby, which was completed in 2008. The seller did a sale-leaseback, and will occupy a portion of the building for an undisclosed term.

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