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.
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