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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 EstateDescription
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.
Agreement Insights
Based on industry dataContract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months