CBRE Represented the building’s landlord, nightingale Properties, during the transactions

CBRE announced today that it has successfully arranged a 15-year lease for the Library for the Blind and Physically Handicapped of theFree Library of Philadelphia and a 12-year lease for Hussian College at 1500 Spring Garden Street in Philadelphia, Pennsylvania.

CBRE’s George Cauffman, Joseph Wolff, Kevin Maloney and David Mendez negotiated on behalf of the Landlord, Nightingale Properties, LLC, who acquired the 1.1 million square-foot Class A building in 2013. Nightingale Properties owns multiple buildings throughout Philadelphia, including 1635 Market Street, 1500 Market Street and 1835 Market Street.

The Free Library of Philadelphia, represented by Keith Kiner and Mike Anderson of PernaFrederick, is relocating from 919 Walnut Street and will occupy 10,183 square-feet on the 2nd floor of the 12-story office building. Hussian College, represented by Veronica Blum of MPN Realty, is moving from the Bourse Building at 111 S. Independence Mall, and will have a private entrance on 16th Street and occupy 32,771 square-feet on the 1st floor. Both Tenants are expected to move into 1500 Spring Garden Street later this year.

Built in 1947, 1500 Spring Garden Street has undergone more than $100 million in renovations, making it one of Center City’s most extensive office makeovers. Some of these upgrades include a tenant-only cafeteria, 70-car lower level indoor parking garage, new windows, 12 high-speed computer controlled passenger elevators, two new fully automatic freight elevators and a 24-hour tenant-controlled HVAC system.

Other unique building features include high 16’ ceilings, heavy-floor loading, large efficient floor plates and morning and evening shuttle service for employees wishing to get to and from Center City, Philadelphia.

“Nightingale Properties is excited to welcome Hussian College and The Free Library of Philadelphia as the newest tenants at 1500 Spring Garden,” said Mr. Wolff, senior vice president, CBRE.“Both tenants will augment the already dynamic tenant roster and are a tribute to the building’s ability to accommodate users requiring cool, creative space.”

Currently the building is 90 percent occupied, however there is quality space available with the ability to accommodate up to 85,000 square-feet of continuous space. Other office tenants within the building include Day & Zimmermann, SunGard and Thomson Reuters.

1500 Spring Garden Street also features a retail component which includes a Saladworks, Dunkin’ Donuts and Retro Fitness, which opened earlier this year.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

About Nightingale Properties, LLC.

The Nightingale Group, LLC is a privately held vertically integrated commercial real estate investment firm. Founded in 2005 by Elie Schwartz and Simon Singer, Nightingale deploys capital on behalf of itself and its partners through specific and nonspecific investments. Primarily, Nightingale seeks value-oriented investments with repositioning or redevelopment opportunities in core and non-core markets across the United States. By leveraging off a proprietary network, Nightingale is able to source unique opportunities. Once an opportunity is identified, an investment specific strategy is then conceived, designed to maximize value at all levels. Headquartered in New York City, Nightingale’s portfolio holdings currently span across 22 states with over 11 million square feet of office and retail commercial space under management. Nightingale’s strongest asset is its ability to move quickly and efficiently through the access of readily available capital and strong in-place teams consisting of legal, leasing and asset management making it a strong player in the industry.