Chicago-based Equity Commonwealth has completed the sale of 1735 Market St. The 1.3-million-square-foot office property is in Philadelphia, Pennsylvania.
The internally managed and self-advised real estate investment trust shed the property for a gross sale price of $451.6 million. Proceeds after credits for capital costs, contractual lease costs, and rent abatements were $435.4 million, as The REIT Wire previously reported.
As of March 27, 2019, EQC’s portfolio comprised 9 properties and 3.8 million square feet.
As The REIT Wire previously reported, during the quarter ended December 31, 2018, the company sold 97 Newberry, a 289,000-square-foot industrial property, in East Windsor, Connecticut, for a gross sale price of $7.1 million.