Thursday, July 30, 2015

Soens and Seligsohn buying up South Broad

  SSH Real Estate, a partnership of Peter C. Soens and Jeffrey R. Seligsohn, and their fellow investor Michael F. Young keep buying up older Ce

Soens and Seligsohn buying up South Broad

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  SSH Real Estate, a partnership of Peter C. Soens and Jeffrey R. Seligsohn, and their fellow investor Michael F. Young keep buying up older Center City buildings east of Broad Street.
  Their latest deal, announced today, is a $57.7 million purchase ($92 per squre foot) of 627,000 square feet at Wachovia Bank's headquarters, 123 South Broad Street, and the connected Witherspoon building. Tenants include Wachovia and Montgomery McCracken; SSH says it'll renovate empty space and boost occupancy from the current 79 percent.
  With other SSH purchases including 230 S. Broad, 42 S. 15th, and 125 S. 9th, that positions Soens and Seligsohn as dominant landlords in the neighborhood, says Glenn Blumenfeld, partner at Tactix Real Estate Advisors in Radnor.
 

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Joseph N. DiStefano
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