Gregory J. Osberg, publisher and chief executive officer of Philadelphia Media Network Inc. announced that the company has decided to downsize from the 86-year-old home of The Inquirer and the Philadelphia Daily News for much smaller space in the renovated former Strawbridge & Clothier store.  Philadelphia Media Network will begin it’s 12 year, 6 month lease of the third floor of the Strawbridge building located at the intersection of 8th and Market Streets by July of 2012.  The move will save the company a substantial amount of money annually and proceeds from the sale of their previous space helped to pay down debt. The landlord for the space is none other than Pennsylvania Real Estate Investment Trust.

Market East Real Estate 

Market East is the area of Center City, Philadelphia along Market Street between Arch Street to the North, Chestnut Street to the South, Juniper Street to the west, and 6th Street (Independence Mall West) to the East.  Market East is a major retail and transportation hubs in Center City, Philadelphia. The newly expanded Philadelphia Convention Center is located at Market East.

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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog

Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
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Philadelphia, PA 19106
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