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of Miami and an unnamed institutionapl investor retained to market the property as a way to bring in anothefr equity partner inthe skyscraper'd office space. The space, demarcated as an officse condominium, totals 933,548 square feet in floorx threethrough 36. The upper portion of the 57-storyg building has been converted into residential condos and is not part of thispotential transaction. What percentage of the office building the current ownerds are seeking tosell couldn't be determined. Eastdil has a policy not to publicly comment and an executivrat America's Capital couldn't be reached for comment. The buildingv is 98.
1 percent leased up with just 8 percent of the leasesa expiring in the nextfive years, according to a marketing brochures put out by Eastdil. Some of Two Liberty's tenants include , law firm Buchanan Ingersoll andUnisys "The property offers an investod the rare opportunity to invest in an iconicv office tower in Philadelphia's prestigious Market West submarkeyt at substantially below replacementr cost," said EastDil's marketing materials. America'ss Capital bought the building in 2005for $151 If the entire office condominium were to it could fetch somewhere in the area of $200 million, according to one At the time, roughly 800,0009 square feet of the 1.
2 million-square-foot building was vacant after Ace Ltd. left for 436 Walnu t St. and Cigna renewed in the building but in less What to do with the space prompted the new ownerf to considerits options. At the a hot residential cond o market and lesser office market convinced the owners to conver t the upper floors from 37to 57, or roughly 300,000 square feet, into luxury condos. Now the markets have The downtown office markeyis tight, especially at the top trophy and overall residential condo activity has
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