Philadelphia Business Journal - April 30, 2004
Six Penn Center, home to the prestigious Philadelphia law firm of Morgan Lewis & Bockius is up for sale. The 305,000-square-foot building is fully leased to Morgan Lewis, which made its home there in the fall of 1998 after a controversial move from One Logan Square. There are nearly 10 years left on a 15-year lease of the building.
The building has several owners. Financial services firm Morgan Stanley owns a portion of the property on behalf of pension funds. Pennsylvania Real Estate Investment Trust of Philadelphia is also an owner. Holliday Fenolglio Fowler is marketing the building. The sale price was not set but estimated to reach $60 million.
The 20-story building has a five-story parking garage that can accommodate 194 vehicles. Since the parking deck was once office space, the garage floors can be converted back into office space to allow Morgan Lewis to expand if necessary.
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