2401 Locust Street Philadelphia, PA

As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in 2401 Locust Street for sale. The property is located at the Southern edge of the Market Street West business corridor. It is one of only a handful of data center assets in the downtown market. 2401 Locust Street is a multi-tenanted, 46,319 SF four story boutique Telco Hotel, which is anchored by Verizon.

Situated on a 0.28-acre parcel, 2401 Locust Street is a carrier hotel and mission-critical facility originally built as a manufacturing plant for Hires Root Beer. The Property was also previously used as a neighborhood newspaper plant before being acquired for conversion to office space. When previous ownership was approached by telecommunications users due to its proximity to the Baltimore and Ohio Railroad fiber routing and the AT&T central office, the building was converted to its current use as an IT carrier facility during the 1980s.

2401 Locust Street has an overall average rent of $43.65 with rents ranging from $36.21 to $238.41 PSF. With multiple sources of additional income providing steady cash flow coupled with engagement of available conduits and ceiling boxes, the property has with significant upside potential over a 10 year hold. 

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