PHILADELPHIA (CBS) – A Philadelphia landmark is for sale, and an expert says a number of options for its future are in play.
Wanted: Buyer for an 18 story building that currently houses a couple of metropolitan newspapers and their website. Yes, the Inquirer building at Broad and Callowhill is on the market for a second time.
There was no deal the first time, and given its prominence and location, Temple Real Estate Professor Forrest Huffman says it would be compared to major Center City office spaces like the Comcast Center.
“It’s a question of how far down the quality ladder would one place the Inquirer building? I’m not sure. I doubt it would be at the very top, but the location isn’t bad. It’s a striking building, but if it wasn’t competitive, the most likely alternative would be to turn it into residential space,” Huffman said.
The media company plans to move its operations elsewhere with the sale.
Reported by John Ostapkovich, KYW Newsradio