Colliers Facilitates Sale of Center City Philadelphia Building
Colliers has completed the sale of 1527 Chestnut Street in Center City Philadelphia to Zaken Realty Trust. The transaction was brokered by Larry Steinberg, Senior Managing Director of Retail Services at Colliers.
Situated on one of Philadelphia’s busiest retail corridors, 1527 Chestnut Street marks the latest addition to Zaken Realty Trust’s growing holdings on the block, which also include 1517 and 1523 Chestnut Street. The building at 1517 Chestnut Street currently offers 1,774 square feet of prime ground-level retail space. Notable features include commercial alley access and consistent exposure to more than 15,900 pedestrians daily.
The property is positioned among a mix of well-known national retailers, such as Five Below, J. Crew Factory, Wendy’s, and Foot Locker. Nearby, 1525 Chestnut Street—spanning 1,455 square feet—was recently leased to SEV Laser in another deal brokered by Steinberg.
“This corridor has long been a high-traffic, high-visibility retail zone lacking in cohesive identity,” said Larry Steinberg. “We’re pleased to have represented the transaction and contributed to the block’s ongoing repositioning.”
