Ben Franklin Technology Partners of Southeastern Pennsylvania, a public-private economic development nonprofit, has put its longtime home in Philadelphia’s Navy Yard up for sale. The organization occupies 12,000 square feet of the 30,000-square-foot Building 100 at 4801 S. Broad St. The rest of the space is leased to other tenants. While the asking price has not been disclosed, the building is assessed at $5.4 million. The decision to sell is partly driven by the development in the surrounding areas and the need to be closer to startups and investors. Ben Franklin Technology Partners aims to reinvest the proceeds from the sale into the local startup and innovation economy. The organization is currently in discussions for a new space that would be close to train lines and more accessible to their partners and employees. They plan to foster a cycle of reinvestment and larger returns to further support the tech community. The building is being marketed by JLL’s Jim Galbally, Alex Breitmayer, and Brett Segal.
Real Estate, Economic Development, Venture Capital & Private Equity,United States, Philadelphia, Pennsylvania
Ben Franklin Technology Partners Puts Longtime Navy Yard Building Up For Sale, Eyes Move