A partnership consisting of Lubert-Adler and PMC Property Group has paid $42 million to buy 2400 Market Street, otherwise known as the Marketplace Design Center, in Philadelphia. "It will be the most exciting project Lubert-Adler has worked on in 15 years," said Dean Adler of Lubert-Adler. "I think it's going to be our crowning project."
"This is really the gateway to Philadelphia," he continued, citing the property's position across from University City, 30th Street Station, near Rittenhouse Square, the Central Business District as well as near Interstate 76 and the Schuylkill Expressway. "This is one of the most ideal locations for any type of use. It is in the heart of two places that are exploding and you're at the epicenter of town.