Friday, December 16, 2016

Cohen Equities Acquires CBD Asset

Cohen Equities purchased the top seven floors of 801 Market St. in the heart of Philadelphia's CBD. The 382,801-square-foot office condo is currently anchored by Health and Human Services.

According to Cohen, the acquistions was driven by the strong market fundamentals and the quantifiable demand for high quality, low cost office space. The East Market and Fashion Outlets of Philadelphia mixed use projects are a major catalysts in this submarket as well as other recent leases. 801 Market has strong in place cash flow with a large capitalization. Cohen also said that there are not a lot of assets with value-add options in the marketplace. Cohen Equities' recent purchases are reflective of their institutional-grade focus on the office sector.

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