SAN DIEGO (Aug. 28, 2012)—Adding more than 450,000-square-feet of urban office space to its rapidly growing portfolio, Trigild – a San Diego-based real estate services company – was recently appointed receiver for a high profile, eight-story office building in the heart of Philadelphia’s prime corporate and institutional corridor.
As court appointed receiver, Trigild is charged with operating and protecting the property, which originally housed the Philadelphia Stock Exchange when it was built in 1981. Named 1900 Market Street to reflect its address, the office complex spans more than 455,000 rentable square feet and features a dramatic full height, 15,000-square-foot central atrium with a glass skylight. The building – situated on 1.60 acres encompassing a full city block – also houses nine ground floor level retail spaces, with anchor tenants including the law offices of Cozen O’Connor, NASDAQ and TD Bank. Trigild has hired broker Newmark Grubb Knight Frank to help market the property for sale.
According to Josh Hall, Trigild’s regional director of real estate east, the building’s tenants will not be impacted in any way by the receivership. “Our role is to help ensure that day-to-day operations run smoothly and efficiently, as well as help market and position the property,” Hall said. “With its prime location and attractive amenities, we anticipate a successful sale,” he added. “This is a highly desirable asset in a superior location in close proximity to world-class shopping, dining, sporting events, entertainment and hotels.”
Headquartered in San Diego with regional offices throughout the country, Trigild has more than 35 years of property management, receivership/bankruptcy and consulting expertise, with a focus on managing and maximizing value for assets in an array of industries, including hospitality, multifamily, office, industrial, retail, petroleum properties and more. For further information, visit www.trigild.com.