Shorenstein Properties rang in the new year with the announcement of seven new leases at 1700 Market St.
The San Francisco-based company has leased 85K of the 845K SF of office space at 1700 Market to a collection including investment sales brokerage HFF, Tierney, CH2M, IHS Markit and the Center for Applied Research. CBRE represented Shorenstein in the leases, which brought the building to 90% leased.
Shorenstein purchased 1700 Market from Nightingale Properties for $33M in January 2016, according to property records, and is in the midst of renovating the building. Originally constructed in 1968, its modernization is estimated to be finished in March. It is one of two office buildings Shorenstein owns in the city; it also owns 1818 Market St. just over a block away.
HFF moved into its new Philly headquarters on the 32nd floor from its previous location in Conshohocken the week of Thanksgiving. Along with its new neighbors, its space is above a five-story parking garage and a retail mix of a Wells Fargo bank, a Cosi sandwich shop, a Pickwick Pharmacy, a day care center and a florist.