Marketplace Design Center Gets New Buyer

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    NEWSLETTERS

    PMC Property Group, backed by Lubert-Adler, is seeking to buy the Marketplace Design Center in Center City, according to real estate market sources.

    PMC Property is a multifamily developer based in Philadelphia and Lubert-Adler, also of Philadelphia, manages a real estate fund that invests in a wide array of projects. It has backed PMC Property on past projects.

    An official with PMC Property couldn’t be reached for comment.

    Marketplace Design Center is comprised of two buildings — 2400 Market St., which is about 370,000 square feet, and 12 S. 23rd St., a six-story, 120,000-square-foot building. PMC Property has a significant multifamily presence in Center City. Read more about this story at PBJ.com

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    For more breaking business news go to PBJ.com