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1100 Ludlow Street

Clement Pappas Signs 34200 Square Feet Headquarters Lease At 1100 Ludlow Street Philadelphia
LEASEDOffice

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

Jonas Skovdal

Cushman & Wakefield

Broker

$23.3M

vol

6 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
National Real Estate Development
National Real Estate DevelopmentLandlord
Clement Pappas

Clement Pappas

Stateside Brands

Tenant

1 deal

Tenant
Stateside Brands
Stateside BrandsTenant

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