Independence Collection, Philadelphia
Independence Collection is a collection of three distinguished office buildings and a parking garage in Philadelphia’s Market Street East neighborhood within Center City.
The buildings total 702,014 square feet of office, retail, and parking. MRP purchased the collection in December, 2015 and began a robust repositioning of the portfolio’s office and retail space, common areas, amenities, and streetscape.
- The Bourse Building located at 111 South Independence Mall East – The Bourse Building opened in 1895 as America’s first formal commodities exchange and was among the first steel-framed buildings to be constructed in the United States. This historic building consists of 229,307 square feet of office on top of 38,290 square feet of retail amenity space. MRP anticipates restore-renovation of the façade, repositioning the ground floor retail space and common areas, constructing amenity space, and upgrading all building systems, with the goal of creating an amenitized retail-rich office environment attracting a younger tenancy to the sub-market.
The Bourse Building
- 325 Chestnut Street – Constructed in 1960, 325 Chestnut Street is a 197,588 square foot office building with 13,938 square feet of retail. MRP is in the process of renovating the façade, all common areas, and adding amenity space, to compete favorably with the existing Class A inventory in the sub-market.
325 Chestnut Street
- 400 Market Street – Constructed in 1967, 400 Market Street is a 178,111 square foot office building with 8,500 square feet of ground level retail space. MRP is under way with the renovation of the exterior façade, common areas and amenity space, and upgrading of building systems.
400 Market Street
- The Bourse Garage on 400 Ranstead Street – Constructed in 1895, The Bourse Garage is the largest parking garage south of Market Street, with 11 stories, 455 spaces, and 27,008 square feet of ground level retail space, currently occupied by a theatre. MRP is currently renovating the common areas of the garage, repositioning the retail and re-leasing the theatre space.
The Bourse Garage