PMC Property Group Acquires Ten Penn Center Office Building In Philadelphia For $30M

The property asset involved in this transaction is the Ten Penn Center office building located at 1801 Market Street in Philadelphia, PA. This office asset has a sale price of $30,000,000 and encompasses a total area of 667,825 square feet, resulting in a price per square foot of $45.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $30,000,000
• Address: 1801 Market Street
• Market: Philadelphia, PA
• Square Footage: 667,825
• Price Per Square Foot: $45
• Buyer: PMC Property Group
• Seller: Sterling American Property & Greenville Partners
• Broker: JLL

The transaction highlights key players including PMC Property Group as the buyer, and Sterling American Property & Greenville Partners as the sellers, who previously acquired the property for $75,000,000 in 2006. JLL acted as the broker facilitating the deal.