Morning Headlines: Public Ledger Building Is Up for Grabs

It could sell for $60M and become a mix of residential and a hotel in the future.

Public Ledger building, Photo by Beyond My Ken via Wikipedia

Public Ledger building, Photo by Beyond My Ken via Wikipedia

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.

Public Ledger up for sale, could sell for upwards of $60M [Philadelphia Business Journal]

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