United Way Puts Philly Headquarters Up For Sale
The United Way of Greater Philadelphia and Southern New Jersey has put its headquarters building on the market.
The international charity built the eight-story office building at 1709 Benjamin Franklin Parkway overlooking Logan Square in 1970 and has occupied it ever since, but it announced on Thursday that it had retained a Binswanger team led by CEO David Binswanger to market the property.
"Together with our Board, we ultimately determined that owning the building is not central to our mission of ending intergenerational poverty, and that, if sale of the building could generate significant revenue, the opportunity cost of investing in a building versus investing in the community and in our initiatives is too great," United Way interim President and CEO Mike DiCandilo said in a statement.
Binswanger expects heavy interest in the 60K SF office building, and expects to complete a sale early next year. Situated across Logan Square from the Franklin Institute and a few blocks from the nearly complete Comcast Innovation Center, the property is zoned for a variety of uses, including multifamily.
DiCandilo said the United Way will remain in the City of Philadelphia, though he did not disclose plans to move out or find a new location when the building is sold. Binswanger and United Way also declined to disclose an asking price for the property.