Aramark HQ building is aiming for $240 million sale, as other office buildings go for far less
Lubert-Adler Real Estate Funds is seeking $240M+ for its 99% occupied 2400 Market St. building in Philadelphia, home to Aramark and other tenants. The sale price target is significantly higher than recent office building sales in the city. CBRE reports high investor interest, with 15 national and international investors expressing interest. The building was purchased for $42M in 2014 and is not in financial distress, according to the company and experts.
How this was made
The 30-second read
Why it matters
The sale could set a new benchmark for premium office assets in the city, affecting comparable property valuations and REIT exposure.
Market read
The transaction may influence regional office‑space pricing and affect REITs with exposure to Philadelphia properties.
What to watch
Special servicing of the loan and the building’s high occupancy may mask underlying credit risk.
Background
Aramark’s headquarters building at 2400 Market St. in Philadelphia is being marketed for a $240 million sale, far above recent local office transactions.
Market effects
Potential impact on commercial real‑estate REITs and property‑focused funds as a high‑priced office asset enters the market.
May influence Philadelphia office‑space valuations and investor interest in the region.
Limited; primarily a local real‑estate transaction.
Counterpoint
The premium price could signal over‑optimism about office demand, risking a future correction.
Key entities
- CompanyLubert‑Adler Real Estate Funds
Owner of the 2400 Market building, seeking $240 million sale.
- CompanyCBRE
Real‑estate services firm marketing the property.
- CompanyAramark
Tenant and occupant of the building.
