230 South Broad Street, Philadelphia, PA
SSH Real Estate and Young Capital acquired 230 S. Broad Street, a 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 have increased significantly during the long-term hold period. Expenses were also reduced by approximately 10% while maintaining the building as a premier, Class B asset. Major renovations were completed including new roofs, elevators and new lobby finishes.
With stable cash flow and consistent, high occupancy 230 S. Broad remains a successful long- term hold.