123 South Broad Street Philadelphia PA
SSH Real Estate acquired a 885,000 SF, two building complex, consisting of 123 S. Broad and The Witherspoon Building in a two-part transaction in 2008 and 2018. SSH Real Estate in a Joint Venture with an Institutional Equity Partner, completed its vision of separating the buildings after purchasing a defaulted note to gain control of the entire complex and recapitalized the project into two distinct investments. SSH moved its headquarters to 123 S. Broad and is continuing to add value by upgrading this iconic historic property and increasing rents. Since separation of 123 S. Broad and rebranding began in 2018, SSH Real Estate management has executed on capital improvements and the leasing team has completed over 325,000 SF of new leases and is continuing to execute the business plan.
Wells Fargo, Universal Music Group, Brian Communications, Sonder
60 Tenants with a mix of creative, legal, non-profit and professional firms.
Unwind a complicated condo structure, implement capital improvement program, upgrade the building and complete an aggressive leasing campaign to maximize NOI.