230 South Broad Street
230 South Broad Street, Philadelphia, PA
215,000 SF Class B office building
$21,700,000 ($102 per SF)
SSH Real Estate, Young Capital, and JOSS Realty Partners acquired
this 215,000 SF Class B office building from Amerimar Enterprises.
After the implementation of an aggressive leasing campaign the occupancy rate was increased above 95% and rental rates increased from $17.50 to $21.50 per square foot net of electric. Expenses were also reduced by approximately 10% while maintaining the building as a Class B asset.
With stable cash flow to investors, favorable fixed, long-term financing and tremendous upside based on its residential conversion potential, our plan is to continue to hold this asset for the long term.Download Case Study PDF