A radio conglomerate is looking to sublease roughly half of its office space in a building overlooking the Schuylkill River.
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Audacy’s 32K SF on the fourth floor of the Aramark-branded building at 2400 Market St. is being marketed by Binswanger. Its 2019 lease for the space runs through 2034.
The company will keep its headquarters in the building, which includes studios for six local radio stations serving Greater Philadelphia.
Audacy filed for bankruptcy in early 2024 before it was purchased and taken private by a group of investors led by Soros Fund Management.
“Philadelphia remains an important part of Audacy, and these changes align our office needs with teams on hybrid work schedules,” Audacy spokesperson David Heim told the Philadelphia Business Journal.
SALES
UniCup International purchased a 106K SF manufacturing facility at 1211 Ford Road in Bensalem from Faropoint. A Colliers team, including Richard Gorodesky, Andy McGhee and Adam Gorodesky, facilitated the transaction.
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Center City Development spent nearly $1.8M on a 12K SF office building at 1232 Chancellor St. in Midtown Village with plans to convert the upper floors into nine apartments, according to a social media post.
The property was previously owned by JacobsWyper Architects, which was represented by Colliers Senior Managing Director of Retail Laurence Steinberg.
LEASES
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Geotechnical engineering firm DYWIDAG has inked a 47K SF lease at Industrial Investments’ 191 S. Keim St. in Pottstown. An Avison Young team, including Cathy Swanson, Jack Owens and John Colvin, represented the tenant. The facility is expected to open sometime this month.
CONSTRUCTION AND DEVELOPMENT
Domus Inc. has broken ground on the 33-unit Linda Lockman King Apartments at 5500 Haverford Ave. in West Philadelphia, according to a social media post. The development led by the Women's Community Revitalization Project was designed by OZ Collaborative.
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Saxum Real Estate and Penwood Real Estate Investment Management are plotting a 166K SF spec industrial project in Upper Gwynedd Township, Real Estate NJ reported. Construction on the 96K and 70K SF buildings is expected to begin next quarter and wrap up in late 2026.
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EQT Real Estate has broken ground on a 274K SF warehouse at 1 Collins Drive in Carneys Point, according to a social media post. Construction is expected to wrap up in Q2 2026.
PEOPLE
MaryVictoria Montanari, Nelson Worldwide's national market leader of hospitality, received NAIOP’s 2025 Developing Leaders Award. The Philadelphia-based manager of a $5M annual pipeline is also a committee member for NAIOP Greater Philadelphia’s annual Battle of the Bands event.
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