Prime Philadelphia Waterfront Redevelopment
Philadelphia, Pennsylvania
Building
Property Overview
- Property Type Office - Office Building
- Year built 1911
- Building size (SF) 120,000
Overview
- Long Term KOZ // 10 Years
- FLEX Enterprise Studios - 3,5,7 Years - Shorter Term Offices Desks - 1 Year
Highlights
GENEROUS TAX SUBSIDIES -The Battery has 2 very attractive tax incentives that are passed on to the benefit of our office tenants.
KOZ Abatement - 10-year City & State Tax Abatement - estimated at 10% of qualified revenues:
Result: It is conceivable that the “tax savings· can completely pay the rent expense -plus amounts above that.
OOZ - Qualified Opportunity Zone - Incentive for companies to locate in areas targeted for redevelopment.
Under QOZ, if a tenant stays 10 years, the appreciation in their business will be federal tax-free.
OFFICE OPPORTUNITIES
Long-Term 10-year leases -65% of SF
Flexible suites leases -furnished -3, 5, 7-year leases -27% of SF
Private offices/ dedicated desks -yearly -8% of SF
EXPERIENTIAL LIFESTYLE ADD ON’S
Wellness - 50,000SF Fieldhouse
Dramatic Rooftop Pool & Garden
Food & Beverage -Within The Battery+ Pier 61 -25,000 SF
Biking & Walking Trail and Waterfront Experiences
