PH Retail Acquires Controlling Interest in Two Properties in Center City Philadelphia

by Amy Works

PHILADELPHIA — PH Retail, an affiliate of Post Brothers, has acquired a controlling interest of two properties located at 1501-1505 Walnut St. and 1520-1522 Chestnut St. in Philadelphia’s Center City. The total project is valued at more than $50 million and adds 70,000 square feet of prime commercial space to PH Retail’s portfolio. Totaling 30,000 square feet of retail/restaurant space, 1501-1505 Walnut St. is occupied by AT&T Mobility’s flagship location and Club Monaco and has one 2,848-square-foot unit of space available. 1520-1522 Chestnut features 27,000 square feet of above-grade space and 13,000 square feet of below grade space. James Galbally of JLL represented the seller, PREIT, in the transaction.

You may also like