Morning Headlines: Building That Houses Spruce Food Market Has Been Sold
Want to know the going rate for a 175-vehicle parking garage that also houses one of the most recognizable signs in Center City? Apparently, it’s “roughly $7.2M,” according to a report in the Philadelphia Business Journal.
An affiliate of Post Bros. purchased the building from CLL Towne Inc. and will be used to supplement the adaptive reuse project at 260 S. Broad St. That project will see the Atlantic Building transformed into a high-end residential building with ground floor retail and, let’s not forget, beautiful designs from starchitecture firm Rafael Viñoly Architects.
As for the sale of Spruce Food Market space and above garage, there’s a interesting note at the bottom of the article:
The structure does have air rights that would allow it to be expanded by about 50,000 square feet but that’s “just an added bonus,” [developer Matt Pestronk of Post Bros.] said and not the long-term play.
• Center City parking garage where Spruce Foods is located sells for $7.2M [Philadelphia Business Journal]
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• He knows hospitality, top to bottom [The Inquirer]
• With Ice And Coal Building’s Murals Gone, Is Italian Market Development Coming? [Hidden City]
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• Readers: Brave the snow and send us your sneckdown photos [PlanPhilly]