Goodbye American Commerce Center, Hello 2nd Comcast Building?
Goodbye American Commerce Center, Hello 2nd Comcast Building?
Center City – An article on Philly.com speculates about a possible second Comcast Building in the Center City Philadelphia skyline. A buyer affiliated with Liberty Property Trust purchased the lot on corner of 18th and Arch in Logan Square that could have been used to build the American Commerce Center Tower – the tallest building in Center City Philadelphia at over 1,500 feet high. The buyer purchased the lot, 1800 Arch Street, on August 3, 2011 for $40,000,000 from Multi Employers Property Trust, a union pension investment fund, that had purchased the property in 2007 for $32,000,000. Real estate brokers quoted in the article feel that a likely occupant for a new building would be Comcast Corp – the current occupant of the tallest building in Philadelphia. Apparently Comcast is looking for space and has leased parts of the former CoreStates and Bell Atlantic headquarters towers.
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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
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