2301 Chestnut street 2300 IonIC street - CBRE Marketplace

11-YEAR ABSOLUTE NET LEASE OPPORTUNITY
Investment Summary
2301 Chestnut street
and
2300 Ionic street
philadelphia, Pennsylvania
2301 Chestnut Street

The Offering
CB Richard Ellis, Inc. has been retained as the exclusive
representative of an affiliate of Capital Solutions, Inc.
(“OWNER”) to effect the disposition of 2301 Chestnut Street
and 2300 Ionic Street (“2301 Chestnut Street,” “2300 Ionic
Street” or “the Property” or “Properties”). The 2301 Property
is located at the northwest corner of 23rd and Chestnut
Streets and the 2300 Property is located 100 yards south
on the southwest corner of 23rd and Ionic Streets in the
Market West submarket of Philadelphia, Pennsylvania. The
Properties are a set of Class A urban office buildings totaling
approximately 140,000 gross square feet. The Properties
are prominently located in the Philadelphia MSA’s most
desirable office submarket, within a few blocks of Amtrak’s
30th Street Station, the esteemed Rittenhouse Square section
of the City and firmly in the center of retail and office uses
within the CBD. The Properties are leased to a single tenant
and in excellent condition.
property description
The Property consists of two office buildings which are 100%
leased to a single tenant. The larger of the two buildings is
a four-story former loft building that was converted to office
use in 1981, which contains approximately 128,590 gross
square feet and is situated on 23,640 square feet of land.
The smaller of the two structures is a two-story office building
consisting of approximately 10,919 gross square feet. This
building is situated on a parcel of land consisting of 4,552
square feet. Nearby amenities include several full-service
restaurants and the surrounding retail base along Market,
Chestnut, Sansom and Walnut Streets. The Properties’
locations provide excellent visibility as well as access to all
forms of mass transportation and surrounding parking.
The Properties’ location is just four blocks north of the most
exclusive residential address in Philadelphia - Rittenhouse
Square and four blocks east of University City, home to the
thriving educational/research/medical complex and the
most expensive office location in the region.
The LEASE
The Property is subject to a long-term absolute net lease
with KlingStubbins, a worldwide architectural and engineering
firm. The summary details of the lease are as follows:
TENANT:
KlingStubbins
Square Feet: 141,763
COMMENCEMENT DATE: 1-24-2005
EXPIRATION DATE: 1-31-2022
Current RENT:
$1,812,510 (increases on
1/2015 and 1/2020)
LEASE TYPE:
Absolute net, inclusive of
roof and structure
TERMINATION OPTIONS: None
Asset Profile
ADDRESS:
LAND AREA:
NO. OF FLOORS: 2 - 4
Total SQUARE FEET: 139,509
OCCUPANCY: 100%
2301 Chestnut Street
Philadelphia, Pennsylvania
and
2300 Ionic Street
Philadelphia, Pennsylvania
Two parcels which total
28,192 SF or .65 of an Acre
2301 Chestnut Street
2300 Ionic Street

Klingstubbins
KlingStubbins is an internationally recognized
architectural and engineering firm with over
60 years of experience on a wide range of
projects. The firm has over 400 employees, with
offices in Philadelphia, PA; Cambridge, MA;
Raleigh, NC; San Francisco, CA; Washington,
DC; and Beijing, China. KlingStubbins provides
professional services in all major disciplines
within the realms of architecture, engineering,
interiors, planning and landscape architecture.
Areas of market focus and specialization include
Corporate/Commercial, Government, Science
+ Technology, Higher Education, Hospitality/
Entertainment, Institutional/Civic, Mission
Critical, and Healthcare. KlingStubbins is
committed to design excellence and quality in
design, technology and service. They are global
leaders in sustainable design, consistent with
their commitment to support the communities
within which they work and live. The firm is
recognized as an innovator in project delivery,
including Building Information Modeling (BIM)
technology. Annual revenues are in excess of $65
million and the firm is consistently profitable.
Lobby of 2301 Chestnut Street
Investment Highlights
• EXCEPTIONAL LEASE STRUCTURE :: The Property is leased under a bondable,
17-year absolute net lease, with a remaining term of eleven years. The rental
stream has periodic contractual increases. The tenant is an internationally
recognized leader in its field and 2301 Chestnut Street serves as its world
headquarters location.
• UNIQUE ACQUISITION OPPORTUNITY :: The Property offers an extremely
rare opportunity to purchase an extremely well-located and high quality office
building in the Greater Philadelphia region leased on a long term, absolute
net basis to a market leading, credit-worthy and recession resistant tenant with
contractual rent increases and no operating expense or capital improvement
exposure.
• PHILADELPHIA’S ECONOMIC DIVERSITY :: The Greater Philadelphia metropolitan
area possesses one of the most diverse economies in the nation, with a heavy
concentration in financial services, healthcare, insurance, pharmaceutical,
education, communication and biotechnology sectors. The MSA is home to
many fortune 500 firms including Sunoco, Comcast, GlaxoSmithKline, Unisys,
Campbell Soup, DuPont, the Vanguard Group and Lincoln Financial.
• MARKET TIMING :: The Philadelphia CBD is showing measurable signs of
recovery. Given the onset of decreasing vacancy rates and a lack of any new
construction, a continued improvement in market fundamentals is expected.

St
Capital Markets | Institutional Group
Shedwick St
35th St
Trolley R oute 10
Fairmount
Av
Melon St
Wallace St
Mt Vernon St
Brandywine St
Spring Garden St
Baring St
36th St
Univ.
City
H.S.
36th
Street
Portal
36th St
Pearl St
Osler Cir
Powelton Av
Haverford Av
National St
For more information, please contact:
R5-R6-R7-R8 Regional Rail Lines
Robert J. Fahey
Executive Vice President
215.561.8951
robert.fahey@cbre.com
Warren St
Filbert
34th St
Lancaster Av
Market St
University of
Pennsylvania
Civic Center Blvd
34th St
St
KI L
Spangler St
Health Sciences Dr
32nd St
Hamilton St
33rd St
Cherry St
Arch St
Hospital of
University of Pennsylvania
The Children's
Hospital of
Philadelphia
University Museum
of Archaeology
33rd St
Napa St
tin Luther King Dr
31st St
Winter St
Race St
Convention Av
32nd St
32nd St
EXPWY
ium Dr
John F. Kennedy Blvd
Drexel
University
University City
Franklin
Field
76
Palestra
31st St
76
SCHUYLKILL EXPRESSWAY
Schuylkill Av
Michael D. Hines
Executive Vice President
215.561.8952
michael.hines@cbre.com
Main
Post Office
30th St
l R i v e r
l
S c h u y l k i
27th
Catharine St
Webster St
Philadelphia
Museum of Art
Schuylkill Park
Taney St
26th St
lly Dr
Eakins Oval
24th St
ylvania Av
Park Towne Pl
VINE ST EXPWY
Waverly St
25th St
Grays Ferry Av
24th St
Bonsall St
Benjamin Franklin Pkwy
23rd St
Market St
24th St
Bonsall St
Cypress St
23rd St
Delancey St
Panama St
South St
22nd St
22nd St
Latimer St
Croskey St
Wilcox St
Brandywine St
Masterman H.S
Monterey St
Spring Garden St
Nectarine St
Buttonwood St
Community College
Hamilton St
of Philadelphia
Winter St
Spring St
21st St
Lamber t St
Woodstoc k St
Appletree St
Arch St
2301
chestnut
street
philadelphia, Pennsylvania
2300
Ionic
street
St James St
Locust St
Van Pelt St
philadelphia, Pennsylvania
21st St
Pine St
20th St
Cuthbert St
JFK Blvd
Ludlow St
Ranstead St
Chestnut St
Sansom
Walnut St
19th St
Shamokin St
Callowhill St
Hallahan
Catholic H.S.
Wood St
St
Uber St
Uber St
Martin St
Commerce St
Rittenhouse Sq
Manning St
Spruce St
Lombard St
Naudain St
Rodman St
Kater St
Bainbridge St
Pemberton St
Fitzwater St
Clymer St
St Albans St
St
Catharine St
Kauffman St
Christian St
23rd St
Fulton
22nd St
21st St
20th St
Montrose St
Logan
Square
19th St
Rittenhouse
Square
Delancey
Dorrance St
Cleveland St
18th St
Addison St
Penn Medicine
at Rittenhouse
18th St
17th St
Franklintown Blvd
Vine St
Summer St
Bouvier St
Race St
Moravian St
Chancellor St
St
Colorado St
Carlton S
Winter
Cherry S
Parkway Museum
Stock Exchange Pl
Mozart Pl
Rittenhouse Square
Playground
Webster St
17th St
Smedley St
Chadwick St
Bancroft St
16th St
Surface Transit Routes
Market-Frankford Line
Broad Street Line
Station Subway Elevated Station
www.cbremarketplace.com/2301chestnut
Trolley Lines
Station Subway Surface
© 2011 CB Richard Ellis, Inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee,
warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example
only a and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax,
financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your
needs. © CB Richard Ellis, Printed in USA