2361-2375 Welsh Rd
Philadelphia, PA 19114
Welsh Office Plaza · Office Property For Sale

The property is one of the largest blocks of office space in NE Philadelphia, with convenient access to US Route 1, Interstate 95, and PA Route 63. The site has great visibility and access from Welsh Road, adjoining a major shopping center off Roosevelt Boulevard, and several major arteries. Besides its premier location, the site also includes over 300 parking spaces, making this an attractive inducement for tenants requiring multiple public and private transportation resources for their customers and visitors. Welsh Office Plaza has recently obtained two well-known tenants: Caring People Alliance (±24,637 SF / ±51.32% GLA) and Premier Education Group (±14,017 SF / ±29.2% GLA). The third, vacant suite, consists of ±9,350 SF (±19.48% GLA) and is actively being offered by the broker community. Caring People Alliance has been serving children and families for over 75 years in the City of Philadelphia. This tenant has entered into a 10-year lease for ±24,637 SF at with rent at $18.00/SF annualized at $443,466 with 2.5% annual rent bumps. This lease is a gross modified lease with 2019 base year. Tenant is responsible for its entire cost of utilities as incurred. Premier Education Group is a multi-disciplinary private career training institution, providing quality career-focused educational services at 30+ campuses in the Northeastern U.S. and Florida. This tenant has entered into a 5-year lease, with one 5-year renewal option, for ±14,017 SF. Rent commences at ±$20.00/SF annualized at ±$280,340 with 3% annual rent bumps thereafter. This lease is a gross modified lease with 2019 base year. Tenant is responsible for all utilities, use, and occupancy. Philadelphia is the largest city in the U.S. state and Commonwealth of Pennsylvania, and the sixth-most populous U.S. city, with a 2017 census-estimated population of 1,580,863. Since 1854, the city has been coterminous with Philadelphia County, the most populous county in Pennsylvania and the urban core of the eighth-largest U.S. metropolitan statistical area, with over 6M residents as of 2017. Philadelphia is also the economic and cultural anchor of the greater Delaware Valley, located along the lower Delaware and Schuylkill Rivers, within the Northeast megalopolis. The Delaware Valley's population of ±7.2M ranks it as the eighth-largest combined statistical area in the United States.