The acquisition of 3550 Market Street (“3550” or “Property”) was completed September 2016, by affiliates of, Miller Investment Management (“MIM”) and SREA. This partnership purchased the Property from Children’s Hospital of Philadelphia (“CHOP”) which was the owner and 98% occupant. Simultaneously, with the closing of the sale, CHOP entered into a long-term lease for the majority of the building. Also, at the time, SREA took over property management and leasing of the Property. 3550 has fully transitioned to the new ownership and management team which has begun marketing space that will be vacated by CHOP in Q2 2017. SREA is considering retail and office options for the ground and second floors.
