Children's Hospital Renews, Expands Lease in Philadelphia

Behringer Harvard announced this month that The Children's Hospital of Philadelphia has renewed its current lease at the Wanamaker Building through June 2027 and expanded their leased space to exceed 250,000 square feet in the historic building. Children's Hospital first moved in to the space in 2005. In 2007, Behringer Harvard REIT I, Inc. acquired a majority interest in the building; Amerimar Enterprises, Inc. is one of the ownership partners and also serves as the managing agent for the property.

"The Children's Hospital of Philadelphia has had a distinguished presence in The Wanamaker Building since 2005, and we're pleased they will be with us for many years to come," said Ms. Deidre Hardister, Vice President of Asset Management for Behringer Harvard. "We will continue to provide them with the exceptional service that is a hallmark of the Wanamaker experience."

Completed in stages from 1902-1910, the Wanamaker Building at 13th Street and Market Street in Philadelphia served as the flagship of the John Wanamaker department store empire for decades and was later converted to offices in the 1980s as the need for urban department stores declined. The Wanamaker Building is home to the world's largest operational pipe organ, which is still played daily. Major tenants include U.S. General Services Administration, U.S. Army Corps of Engineers, U.S. Department of Housing and Urban Development, Hay Group, The Weightman Group and McGettigan Corporate Planning.

For more news and information visit Blumberg Capital Partners.

Granite Tower in Denver is Up for Sale

Granite Properties Inc. has placed the Granite Tower in Denver up for sale for an undisclosed asking price according to the Denver Business Journal. Granite originally purchased the landmark property for $88.5 million in 2005, or roughly $160 per square foot, from Amerimar Enterprises Inc. of Philadelphia. Mike Winn and Tim Richey of Cushman & Wakefield of Colorado Inc. are marketing the building for Granite. Stephanie Lawrence, the managing director for Granite, said in the article that the company decided to place the skyscraper on the market now due to the improving national commercial real estate investment market, and the attractiveness of downtown Denver office buildings to investors.

The 561,000 square foot 31-story Granite Tower, located at 1099 18th Street, was originally built in 1983 and previously known as Plaza Tower as part of the two-square-block Denver Place complex. The building is currently 95% leased with major tenants including Anadarko Petroleum, Robinson Waters & O'Dorisio PC and Jackson Kelly PLLC.

For more news and information visit Blumberg Capital Partners.