CBRE team has leased over 60,000 sq. ft. at 2000 Market Street in the last 12 months

CBRE announced today that the new ownership at 2000 Market Street has plans to invest more than $7 million in major capital improvements.

Built in 1972, 2000 Market Street is a 665,000 sq. ft. Class A office building newly acquired last year by a New York based partnership led by Nahla Capital.Over the past year, Nahla has launched a capital improvement program for the building worth upwards of $7 million to be completed over the next three years. Included in these projects will be the following major infrastructure improvements: (1) four new 750-ton cooling towers installed on the building’s rooftop; (2) elevator modernization including the installation of destination dispatch; (3) fire alarm upgrade; and (4) façade restoration.

“Our decision to invest in these capital improvements will increase the overall quality of the property, while continuing to attract top-tier tenants,” said Andrew Liebhafsky, Director of Asset Management, Nahla Capital. “We plan to start with the major building systems and then move on to the common area aesthetics,” Liebhafsky added.

In the last 12 months, the CBRE team of Joseph Wolff, Kevin Maloney and David Mendez, on behalf of the landlord, have leased over 60,000 sq. ft. at 2000 Market Street. Last September, one of the building’s tenants consolidated its operations and signed a long-term lease renewal and as a result, 25,666 sq. ft. will become available at the property in the third quarter of this year—the first full-floor availability in 10 years.

“With the building currently 98 percent occupied, this investment by Nahla Capital demonstrates their commitment to proactively improve the overall tenant experience,” said Kevin Maloney, Senior Vice President, CBRE.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.