1818 Market

1818 Market Street
Philadelphia, PA 19103

1818 Market Street is located in Philadelphia’s Market Street West submarket – a popular destination for office tenants, young professionals, residential developers, and retailers. The property’s prime location, efficient floor plates, high ceiling heights, impressive window lines, and above-standard parking, make it one of the few buildings in downtown that has the flexibility to attract traditional tenants, while also offering the ability to create open plan, collaborative work space. The property offers ground-floor retail, including the popular, Marathon Grill, that offers outdoor seating in its plaza. It is also central to public transit rail, Amtrak, PATCO and bus lines, and just a short walk from renowned restaurants, high fashion boutiques, salons/spa, five diamond/national historic landmark hotels, Rittenhouse Square, and premier cultural venues including the Kimmel Center.

We have budgeted a $21.5 million capital improvement plan for the property that is currently underway. The initial phase results in a large portion of the 30th floor being returned to a state not seen since original construction, with exposed concrete decking and the removal of interior walls to open up more of the space for use as a traditional office or an open-plan collaborative environment. We have doubled the window line for the space to create more natural light and increase the floor’s city views. Additional work addresses a restoration of the building’s façade, modernizing the elevator system, renovation of lobby and elevator cab interiors, renovating common areas and bathrooms, and adding a tenant amenity package that currently includes a bike room and fitness center.

Property Facts

  Acquired 2015
  Type Office
  Year Built
1971
  Size 990,000 sf
  Stories  
40
  Floor Plates
30,000 sf
  Parking Ratio 0.4:1,000