Morning Headlines: Public Ledger Building Is Up for Grabs
Six months after the nearby Curtis Center traded for a whopping $125M, another historic building around Independence Hall is on the market. Philadelphia Business Journal’s Natalie Kostelni reports the Public Ledger building at 6th and Chestnut Street could sell “in the $60M range.” Currently, the office building is around 69 percent occupied, mainly by the General Services Administration.
Much like with the Curtis Center, which Keystone Property Group and Mack-Cali Realty Corp. intend to turn into a mix of office and residential uses, the future inside the Public Ledger building is in flux. The 12-story building is in a prime location overlooking Independence Hall and Mall and boasts 535,000 square-feet of space. Prospective buyers are looking to what might fit best with the property, including transforming it into residential units or possibly even a hotel.
The handsome building was built in 1924 and designed in the Georgian Revival style by famed-Philadelphia architect Horace Trumbauer.
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