The building that houses the famed Electric Factory, a popular concert venue that has been around for more than four decades, is up for sale and could possibly trade for around $17 million, according to estimates.
The property sits in the Callowhill neighborhood of Philadelphia, which has increasingly been grabbing interest from investors and developers who have been buying buildings for conversions or moving forward with new construction. The area has also been referred to as Spring Arts and includes the Chinatown North section of the city. Regardless of the name, the renewed interest in the area is bring driven by several factors including the core of Center City stretching its boundaries and pushing northward, the availability of older industrial buildings ripe for redevelopment as well as the phased transformation of the Reading Viaduct into an elevated park.
To read the full article, click here.
Breaking news and the stories that matter to your neighborhood.
For more business news visit, Philadelphia Business Journal