Center City Philadelphia Class A Boutique Office Tower for Sale

Thursday, May 16, 2019

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing a 243,748-square-foot, 25-story, Class A office tower in the heart of Philadelphia’s thriving CBD. The Graham Building at Dilworth Park is a unique boutique building that boasts 95% occupancy and more than 7.8 years of weighted average lease term. The property offers unmatched views of City Hall and Dilworth Park, a fully upgraded amenity package, destination dispatch elevators and exquisite common areas that showcase the property’s boutique floor plates that average approximately 10,200 square feet. The offering presents a rare opportunity to acquire a centrally located office building with large blocks of space that will conform to a wide range of tenant requirements.

No other property in Center City Philadelphia can offer its tenants the mix of amenities, modern aesthetics and sense of place that the Graham Building at Dilworth Park provides. Additionally, ownership invested significant capital improvements to position the property as a market-leading Class A building. These recent upgrades are at early stages of their useful life, which allows an investor to fully realize their full benefit.

Office Building for Sale Investment Highlights

  • Unmatched Centralized Location:  The Graham Building at Dilworth Park is in the center of Philadelphia’s dynamic and evolving CBD at the intersection of Market and 15th Street. The property sits adjacent to Philadelphia City Hall, the central landmark of Philadelphia, and is surrounded by Philadelphia’s major office and retail destinations. Within the last 10 years, this immediate area has been the primary recipient of much of the city’s private and public development, evidenced by nearly three quarters of a billion dollars of investment activity.
  • Stabilized Rent Roll with Lease-Term Longevity:  The property boasts a WALT of 7.8 years with more than 30% of revenue being generated by The Graham Company, which has 10 years of remaining lease term and tenure at the property of just under 17 years. The Graham Company operates as an insurance and employee benefits broker and is headquartered in Philadelphia at the property.
  • Fully Upgraded Boutique Building:  The Graham Building at Dilworth Park fits within a unique niche of office space when compared to other buildings within the market. The property’s typical 10,200-square-foot floor plate gives smaller users the convenience and privacy of a dedicated floor suite, which is a rarity within the market. Additionally, the office property for sale is equipped with an amenity package similar to larger buildings; amenities include a full-service gym, service-oriented retail, modern lobby, state-of-the-art elevator management system, fulltime security desk and breathtaking views of City Hall and Dilworth Park.
  • Transit-Oriented Location:  Philadelphia benefits from a multi-modal, regional transportation system which offers exceptional accessibility throughout the city and suburbs. The property’s central location provides unmatched access to all areas of Center City, its surrounding neighborhoods and the entire Philadelphia region. The Graham Building at Dilworth Park is located adjacent to concourse access to Suburban Station, the primary CBD commuter rail station served by SEPTA. Access to the concourse is a two- to three-minute walk from a tenant’s desk. Amtrak’s 30th Street Station, the third busiest stop along the nation’s Northeast rail corridor, is also easily accessible via the Market Frankford Line, with a direct stop also being located less than a one-minute walk from the property. In addition to its extremely walkable location, the property offers tenants convenient access to all major arterial roadways of the region, including Interstates 76, 676 and 95.

To learn more about this boutique Class A office building for sale or other commercial real estate listing in Philadelphia and the Mid-Atlantic, please contact Doug Rodio or Brett Segal in HFF’s Philadelphia office.

To view HFF’s current real estate investment sales listings, please click here.

Photography Credit: Greg Benson

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