Now that PREIT owns both of the buildings at the northwest corner of 15th and Walnut streets, a major retail upgrade is in the works for the properties.
Broker Douglas Green of Michael Salove Company informs us that his firm is actively shopping the properties for multi-story retail use. Of the current tenants, only Club Monaco will remain in place. MSC’s plan is to give the upscale women’s fashion retailer more appropriate company.
MSC is particularly interested in finding a prime tenant for the corner space, which currently houses a smoke shop. Green noted the incongruity of a “hookah shop” at a major intersection that boasts a fitness club and a high-end steakhouse, with a Cheesecake Factory soon to join them.
PREIT acquired the buildings in January of this year. Louis I. Kahn, the celebrated Modernist architect, maintained his office at 1503.
Photo: Sandy Smith