University of the Arts Portfolio 2024 IA_Property for Sale

Philadelphia, PA, US, Americas

University of the Arts Portfolio 2024 IA

Portfolio description

Jones Lang LaSalle Americas, Inc. (“JLL”), has been retained on an exclusive basis to arrange the sale of the University of the Arts Portfolio (the “Portfolio”, “Properties”, “Opportunity”, “Offering” or “Campus”), a nine-property portfolio located along the South Broad Street corridor between City Hall and South Street in Center City, Philadelphia. The Offering provides a generational opportunity to reshape the heart of Philadelphia’s CBD.

The Campus is currently improved with 760K square feet across the nine buildings. Flexible zoning allows for a variety of future uses without any zoning reclassification or variances. Ample additional FAR exists on almost all assets. The Campus can be redeveloped for a range of uses including multi-family, office, retail, hospitality, healthcare, classroom, and entertainment.

The Portfolio is being offered free and clear of existing indebtedness, and on an as-is, where-is basis. The assets can be acquired as a portfolio or on an individual basis.

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Attributes

Building area net

243,856 sf

Land area net

0 sf

University of the Arts Portfolio 2024 IA (9 Properties)

Media

Investment Highlights

Generational Opportunity

The nine-property Campus provides the opportunity to reshape the heart of Philadelphia’s Central Business District. The Campus can be redeveloped for a range of uses including multi-family, office, retail, hospitality, healthcare, classroom, and entertainment.

Irreplaceable CBD Location

The Portfolio is strategically positioned within Philadelphia’s CBD, home to an impressive concentration of Fortune 500 companies, law firms, and financial institutions, making it a premier business destination in the northeast region of the country.

Historic Tax Credit

Five out of the nine buildings in the portfolio are designated “Historic”, offering financial incentives in the form of tax credits for future ownership. These credits can substantially reduce the costs associated with repurposing these properties, making adaptive reuse projects more economically viable.

Flexible Zoning