Marketplace Design Center Gets New Buyer

By Natalie Kostelni | Philadelphia Business Journal
|  Tuesday, Jan 14, 2014  |  Updated 5:10 PM EDT
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Marketplace Design Center Gets New Buyer

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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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