An 8-Property Portfolio Bridging Old City With Northern Liberties Is Up For Sale
Callow East, an industrial property put up for sale
An eight-property portfolio stretching from Second Street to the east, Ninth Street to the west, Callowhill Street to the south and Spring Garden Street to the north has been put up for sale by investor Mark Rubin.
They are all in an area between Old City (and eastern Center City) and Northern Liberties that has been primarily used for industrial spaces, but which has been recently rezoned for large-scale residential, office and commercial uses. The first concrete plans for such use in the area, dual residential towers at Fourth and Callowhill streets designed by Cecil Baker & Partners, is included in the sale, as first reported by the Philadelphia Inquirer.
The offering, totaling 7.75 acres, is being marketed by Colliers International as the start of a new neighborhood, dubbed Callow East and valued at north of $80M. It includes warehouses, the parking lot that will become the towers, a City Fitness gym at Second and Spring Garden streets, and the former site of Stephen Starr's nightclub the Bank, among others.
