230 South Broad Street
Philadelphia, Pennsylvania
Property Highlights
Year Purchased: 1999
Year Sold: 2005
Previous Occupancy: 91%
At Sale Occupancy: 99%
Square Footage: 216,300 SF
Number of Floors: 20
230 South Broad Street

230 South Broad is located in the heart of Center City Philadelphia at the northwest corner of Broad and Locust Streets amidst the city’s most venerated cultural institutions on the Avenue of the Arts. In addition to being at the center of Philadelphia’s primary cultural corridor, this location places the property within four blocks of Rittenhouse Square as well as within four blocks of the West Market Street office core. The historic Academy of Music, home to both the Philadelphia Orchestra and the Pennsylvania Ballet, is located directly across Locust Street and the newly completed $250 million Kimmel Center for the Performing Arts is just one block to the south of the property. Finally, the property is located adjacent to the Broad Street Subway, one block from the PATCO high-speed line to suburban New Jersey and only four blocks from Suburban Station, which is the hub for all regional rail lines serving the Pennsylvania suburbs. Its proximity to multiple mass-transit lines enables the property to offer its tenants superior commuting alternatives.

The typical floor contains approximately 10,700 rentable square feet with 8'6" ceiling heights. New solid-state elevator controls and modernized cabs were installed between 1984 and 1988. The property is in full compliance with all codes including being fully sprinklered. The building’s HVAC system, installed in 1994, features individually controlled electric heat pumps.

In addition to the office space, the building’s ground floor offers an outstanding retail location at an intersection with heavy pedestrian traffic. Estia, a popular upscale restaurant, and a PNC Bank branch currently occupy the ground floor. Amerimar completed a $1.4 million renovation of the property that included cleaning and re-pointing the façade, new cooling towers and upgrading the common areas.