Friday, February 16, 2018

CBRE Global Investors Selling 1650 Arch

CBRE Global Investors has tapped brokers out of CBRE’s Philadelphia office to market the 553,349-square-foot 1650 Arch office building to prospective buyers. The property is being listed without an asking price.

1650 Arch is a 27-story Class A high-rise that includes office and retail space. It was designed by Mitchell/Giurgola Associates and was built in 1974, and renovated in 2001. The building is located in the Market Street West submarket. CBRE Global Investors acquired the building in 2015 for $70 million.

Currently, 1650 Arch is 93% occupied by tenants such as the U.S. Environmental Protection Agency (EPA), JLL and other major tenants. Robert Fahey and Jerome Kranzel of CBRE will market the property for sale.

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