Clement Pappas Signs 34200 Square Feet Headquarters Lease At 1100 Ludlow Street Philadelphia
1100 Ludlow Street
Building Size
34,200 SF
Asset Type
Office
Closing
Sep 25, 2025
AI
The property involved in this transaction is located at 1100 Ludlow Street in Philadelphia, featuring an asset type categorized as an office space. The total square footage of the property is 34,200 square feet. The lease agreement signifies a commitment from the tenant for a significant duration.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Lease Date: 09/25/2025
- Landlord: National Real Estate Development
- Tenant: Clement Pappas - Stateside Brands
- Brokers: Jonas Skovdal & Brian Young - Cushman & Wakefield
Clement Pappas - Stateside Brands has secured a headquarters lease at the specified address, with plans to move in during the spring of 2026 following a custom buildout. Cushman & Wakefield's brokers, Jonas Skovdal and Brian Young, represented Stateside Brands in this transaction, while the property ownership lies with National Real Estate Development.
Players
Philadelphia Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93