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NGKF Capital Markets has been selected by Scott Mazo’s University Place Associates LLC to exclusively market 2.0 University Place, the city’s most environmentally responsible office building, located in University City at 30 North 41st Street, off Market Street. Senior managing directors David Dolan and Michael Margolis will lead the NGKF Capital Markets team on the assignment.
Developed last year, the five-story, 97,582-square-foot office building earned the distinction as the first multi-tenant office building in the country to be certified LEED Platinum for both the interior and exterior of the property. U.S. Citizenship and Immigration Services occupies the first three floors, accounting for nearly 60 percent of the rentable area. Its lease runs for 15 years, providing long-term stability and premium Federal Government credit.
The top floor of the energy-efficient property is currently available and is seeing significant leasing interest. The building also features the only accessible green roof in the city and an HVAC system that provides filtered air at comparable levels to hospitals and surgical centers, based on the MERV measurement scale, for an optimum healthy working environment.
2.0 University Place is part of one of the hottest submarkets in the country, in the rapidly growing University City neighborhood where several institutions, such as the University of Pennsylvania, Drexel University and the Children’s Hospital of Philadelphia, are all developing new buildings in the area along with other private developers. Within the 2.4 square miles of University City, there are approximately $3.5 billion of new or recently completed real estate projects and a 94.3% commercial office occupancy rate. It is located in a Keystone Opportunity Improvement Zone that offers tenants local and state incentives until 2018.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 330 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets. For further information, visit www.bgcpartners.com.