JLL arranges sale for 1704 Walnut Street in Rittenhouse Square, Philadelphia
JLL Capital Markets arranged the sale of 1704 Walnut Street, a mixed- use property centrally located in Rittenhouse Square in Philadelphia. Asana Partners purchased the site from an affiliate of Midwood Investment and Development. JLL Managing Director Jim Galbally along with Vice President Colin Behr led the team handling the sale of the property.
1704 Walnut Street is a 12,000-square-foot building located on the premier shopping corridor in the prestigious Rittenhouse Neighborhood.
“The interest we are seeing along major retail corridors in Philadelphia continues to remain strong, from everyone to local, private capital to national institutions,” said Jim Galbally.
“Throughout the process, Asana Partners was a tremendous buyer,” said Colin Behr. “They worked diligently and efficiently towards a smooth closing. Although there was a lot of interest in the asset, Asana Partners was the best choice when selecting a buyer.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2017 alone, the firm’s 2,400 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
