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Philadelphia Landmark Building For Sale

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

  • randomness – June 10, 2011

    […] I’m thinking I should pick up this little piece of real estate in Philly.  Any […]

  • Stephanie Patterson

    SHAME! Once Knight-Ridder took over, things starting a downhill slide. The best publishers, editors, and writers left in droves. The Pullitzers stopped coming in multiples. Now a treasure of a building is being sold at a yard-sale! I worked in that magnificent building in the papers’ last “glory days” and then watched things begin to crumble. I dodged forklifts when going between buildings. I spent time with just about every department from the CEO to Maintenance and met wonderful people, who planned to spend their entire careers there. Now another piece of history is going to the highest low bidder. SHAME!

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