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Philly Office Retail awarded long-term lease of five SEPTA Regional Rail stations for $1 per year
Dec 26, 2024•over 1 year ago
Contract Type
contract
PhiladelphiaReal Estate
Description
Philly Office Retail was awarded a contract by SEPTA for the long-term lease of five vacant Regional Rail stations for up to 99 years, with the developer assuming all renovation costs. The lease is expected to benefit SEPTA riders and the surrounding neighborhoods by potentially becoming community hubs.
Company Information
Company
Philly Office Retail
Location
Philadelphia, Pennsylvania, United States
About
Philly Office Retail has a proven track record of renovating historic buildings and currently operates the Richard Allen Lane Station under a traditional lease agreement with a coffee shop on the ground floor and a residential apartment above.
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Strategic
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PhiladelphiaReal Estate