Center City offices sold for $23M; apartments someday?
KlingStubbins home bought by Denver's Plante
A five-story Center City office building, the marble-trimmed and Classical-detailed, 5-story onetime factory at 2301 Chestnut St./2300 Ionic St., has been sold by Frank Seidman's Capital Solutions, of Blue Bell, to Denver investor Michael Plante, for $23 million.
The block-long office is wholly occupied by engineering and design firm KlingStubbins, which has an agreement for 9 more years, says Douglas Rodio, senior vice president at JLL Capital Markets Group, which represented both sides in the deal.
The new owner "plans to own it as an office building; at the end of the lease term, it has the potential to be a successful office building, or go to an alternate use such as multifamily," Rodio tells me.