5 Tower peddled for $78M
Five Tower Bridge in Conshohocken is up for sale; asking price, $78 million, reports Real Estate Alert (limited listing for non-subscribers).
The 8-story, 224,000-sq ft, Skidmore Owings & Merrill-designed tower counts Keystone Foods ($32.50/sq ft, 2016 expiry), Nationwide ($33/2013), BTG International, and Eli Lilly among its tenants. It was finished in 2001 by Oliver Tyrone Pulver Corp. and a client of Cornerstone Real Estate Advisors. CB Richard Ellis's Robert Fahey has the listing, though he didn't return Phillydeals' calls, no doubt cause he suspects we're just testing the market, not looking to buy.
Besides its role as a broker, CBRE is one of the nation's big real estate investors, #15 on Private Equity Real Estate magazine's new list of the 30 biggest investors. Blackstone Group, with $20 billion, tops the list. Philadelphia's Lubert Adler, with almost $3 billion, is the lone local entry.
The 8-story, 224,000-sq ft, Skidmore Owings & Merrill-designed tower counts Keystone Foods ($32.50/sq ft, 2016 expiry), Nationwide ($33/2013), BTG International, and Eli Lilly among its tenants. It was finished in 2001 by Oliver Tyrone Pulver Corp. and a client of Cornerstone Real Estate Advisors. CB Richard Ellis's Robert Fahey has the listing, though he didn't return Phillydeals' calls, no doubt cause he suspects we're just testing the market, not looking to buy.
Besides its role as a broker, CBRE is one of the nation's big real estate investors, #15 on Private Equity Real Estate magazine's new list of the 30 biggest investors. Blackstone Group, with $20 billion, tops the list. Philadelphia's Lubert Adler, with almost $3 billion, is the lone local entry.
- Bloomberg News
- Financial Times
- Search SEC filings
- Philadelphia Stock Exchange market data
- GF Data Resources LLC, Conshohocken
- Association for Corporate Growth, Philadelphia chapter
- Grubb & Ellis Metro Trends Reports
- Studley Research & Ideas
- Pennsylvania state budget, 2008-2009
- Philadephia city budget, fiscal year 2008
- New Jersey state budget, fiscal year 2008
- Pennsylvania State Employees Retirement System
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