CBRE Negotiates Sale of 140,913 SF Life Sciences Building in Philadelphia

by Taylor Williams

PHILADELPHIA — CBRE has negotiated the sale of a 140,913-square-foot life sciences building located at 3701 Market St. in Philadelphia. Built in 2000, the property was leased to Penn Medicine and Drexel University at the time of sale. Robert Fahey, Jerry Kranzel, Bruer Kershner, Erin Hannan and Jack Corcoran of CBRE represented the seller, University City Science Center, in the transaction. Steven Doherty and Nick Harris of CBRE arranged an undisclosed amount of acquisition financing on behalf of the buyer, San Francisco-based GI Partners, which purchased the eight-story building for an undisclosed price.

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