Office building housing Vanguard's Center City outpost sells for $28.8M

Bala Cynwyd-based Stoltz Real Real Estate Partners has acquired the 2300 Chestnut Street office building, home to the Vanguard Group's central Philadelphia research-and-development outpost, for $28.8 million.

Stoltz purchased the 100,998-square-foot office building from Paul V. Profeta & Associates of West Orange, N.J., real estate services firm JLL, which helped broker the sale, said in a release Wednesday.

The 2300 Chestnut building is home to the headquarters of Saxbys Coffee LLC, in addition to the 16,000-square-foot Vanguard facility.

Profeta was represented in the deal by team at JLL led by managing director James Galbally in Philadelphia.