Binswanger has been named exclusive agent for the sale of one of the most iconic buildings on the Benjamin Franklin Parkway, United Way of Greater Philadelphia and Southern New Jersey Headquarters. This approximately 60,000 sq. ft. eight-story building was built in 1970 and overlooks Logan Circle with eternally unobstructed views down the Parkway towards the Philadelphia Museum of Art.
“The Benjamin Franklin Parkway is one of the most unique avenues in the country, modeled after Paris’s Champs Elysee”, said Binswanger’s CEO, David Binswanger. “The Pope’s visit, the NFL Draft and the many festivals and concerts held there demonstrate how vibrant the area is. United Way has been there for 50 years and there is a one-time opportunity to acquire such a singular site that could be reimagined for a variety of uses.”
Mike DiCandilo, United Way’s Interim President and CEO, added, “Over the past 18 months, United Way has been conducting a long-range strategic planning process designed to deepen our impact in the community, and do so as efficiently as possible. This work has included refining and clarifying our Impact Fund investment framework, identifying new ways to enhance our fundraising efforts, and taking stock of operational needs and opportunities. Together with our Board, we ultimately determined that owning the building is not central to our mission of ending intergenerational poverty, and that, if sale of the building could generate significant revenue, the opportunity cost of investing in a building versus investing in the community and in our initiatives is too great.Selling our headquarters space on the Parkway, however, does not mean that we will be leaving Philadelphia. Philadelphia is the urban center of our nine-county footprint, so maintaining a strong presence here will be critical to our efforts to end intergenerational poverty moving forward.”
Jason Kramer, Senior VP at Binswanger believes, “Activityon the building should be very strong. Zoning permits a variety of uses. Its size is unique for a building in the heart of Philadelphia’s Central Business district. Big enough to be substantive as office, residential, hotel, academic or even medical; yet not so big as to be overwhelming. The floor plates are similarly distinctive and with all the development from Fairmount to East Market to the new Comcast Center, the building is in the center of it all.”
David Binswanger, Jason Kramer, and Josh Haber of Binswanger are beginning to actively market the property. Josh Haber, Senior VP at Binswanger believes the building will generate all kinds of interest and will be sold by the spring of 2018.
Headquartered in Philadelphia, Pennsylvania, Binswanger is an international full-service real estate organization with offices worldwide throughout the United States, Canada, Latin America, Europe, the Middle East, and Asia.