Philadelphia

Real Estate Company Buys Maternity Giant's Northern Liberties Headquarters

A real estate company that prefers to work quietly behind the scenes has bought Destination Maternity Corp.’s headquarters in the Northern Liberties neighborhood in Philadelphia for roughly $14 million.

Alliance Partners HSP of Bryn Mawr, Pa., closed Friday on the 220,000-square-foot building at 5th and Spring Garden streets.

While Alliance Partners has initially focused on the suburbs, the company is shifting its strategy and will buy urban properties in Philadelphia. The Destination Maternity headquarters and warehouse is its first buy in the city.

The real estate company likes to find problem, in-fill properties and convert them into what Previdi calls Class A-minus office space. It’s space that looks really good without a lot of glitz and at reasonable rents, Previdi said. Read more about this story on PBJ.com.

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