1616 walnut street

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1616 Walnut Street PA Evictions - A Sitting Tenant's RightsChevy Chase, MD-based Federal Capital Partners has acquired 1616 Walnut Street, a 25-story, 279,770 square foot office building in Center City, Philadelphia.The property, currently 90% leased, was acquired against a three way partnership with Philadelphia-based Cross Properties and 806 Capital coming from the Isard-Greenberg Company, which owned the building for longer than three decades.Plans for property conprise of a possible conversion with a residential use eventually.Jones Lang LaSalle continues to be retained to handle the building.1616 Walnut encompasses 188,560 square feet of work place, 7,210 square feet of retail space along with a 160-space integrated parking garage. The building is proximate to transit options including Septa bus routes, the Market-Frankford and Broad Street subway lines as well as the regional rail lines at Suburban Station.Incorporated 1929, 1616 Walnut Street PA was lauded as an architectural marvel at the time, receiving top honors along at the 12th International Buildings Congress in Budapest. Its five-story parking garage made it one of the first properties to feature on-site parking, which was then considered a novelty. The long-lasting property was listed in the National Register of Historic Places in 1983 and also the Philadelphia Register of Historic Places on January 7, 1982.1616 Walnut marks FCP’s second acquisition in downtown Philadelphia when company’s investment in 1701The new owners of the building would like to “detenant” 1616 Walnut. Does anyone notice any similarity between destroy, demolish, destruct and detenant? Yes, they actually possess the right to not renew your lease. However, there are numerous things which guard against being “thrown on the street”