CBRE Global Snaps Up Two Center City Properties
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CBRE Global Investors is reportedly going to acquire United Plaza and 1650 Arch St in Center City. The two properties, which total over 1.1M SF, are trading hands as a portfolio, and will sell for around $200M. TIER REIT (formerly Behringer Harvard REIT I) is the seller, according to the Philadelphia Business Journal. JLL has been marketing the buildings for sale. [PBJ]