24,032 SF Retail Space Available in Former Drexel Bank Headquarters

24,032 SF retail space available in Five story prime retail space on the highly former Drexel Bank headquarters coveted corner of 15th and Walnut Streets in Center City Philadelphia

Area Tenants The space was most recently used as an LA Apple, Anthropologie, Barbour, Butcher & Fitness Singer, Cheesecake Factory, Club Monaco, Coach, Diesel, The Gap, GUESS, Kenneth Cole, Lacoste, The space consists of a ground floor, Lululemon, Max Brenner, Nicole Miller, Ralph Lauren, basement, sub-basement, and two mezzanines Tiffany & Co., Urban Outfitters, Williams-Sonoma open to the ground floor Demographics Beautiful original details remain throughout such 2015 Population Estimate Center City: as high ceilings with magnificent architectural Over 183,000 residents & 294,000 workers detail and oversized windows overlooking 15th 2015 average daily pedestrian activity: 25,000 and Walnut Streets

Located three blocks from Rittenhouse Square 2015 Statistics for Center City and one block from Broad Street 3,073 Center City storefronts in the heart of the city's booming commercial, 3.1 million occupied hotel room nights retail, residential, and dining district 116,000 college students 1 billion dollars in retail demand The Drexel Building, listed on the National Over 6.7 billion dollars in major construction Register of Historic Places, is a seven story projects underway building originally built between 1925 and 1927 as the headquarters for Drexel and Company Square Footage Breakdown

Sub-Basement: 2,593 NNN Lease Basement: 4,776 U&O Tax: $1.42 psf Ground Floor: 5,185 Mezzanine 1: 5,893 Operating Expenses: 25.56% (est. $9.05 psf) Mezzanine 2: 5,585 Real Estate Tax and CCD Tax (2017): est. $7.42 psf Total: 24,032

*Plus electric and water **Escalations will be passed through to tenant

The Drexel Building AllanDombRealEstate 1435 Walnut Street, Philadelphia, PA 215.545.1500 [email protected] www.thedrexelbuilding.com www.allandomb.com

Although deemed accurate, this information is subject to errors, omissions and changes without notice. Boathouse Row SPRING GARDEN STREET

HAVERFORD AVENUE CALLOWHILL STREET

SPRING GARDEN STREET

31ST The Barnes Foundation The Victor Radio Lofts VINE STREET EXPRESSWAY VINE STREET EXPRESSWAY VINE STREET Cooper’s Crossing 2.6mi FRANKLIN

SQUARE 35TH BENJAMIN FRANKLIN BRIDGE LOGAN Venice Lofts 7.7mi SQUARE Hahnemann University Hospital POWELTON AVENUE RACE STREET RACE STREET

Academy of L I Natural Sciences Pennsylvania A National Constitution Center

R Convention

T Center

R African American Betsy Ross Cira Center E Museum

V Comcast Center House I ARCH STREET R ARCH STREET

L JFK STREET BROAD I PLAZA K Market East Station L Y JOHN F KENNEDY BLVD FILBERT STREET U Suburban Station

3RD

4TH

32ND 34TH

33RD SCHUYLKILL RIVER

C 30th Street Station S US Post Office MARKET STREET CITY HALL National Museum of

Drexel Law School American Jewish History

6TH

7TH

8TH DELAWARE RIVER DELAWARE

9TH 5TH

DREXEL UNIVERSITY 10TH

15TH

2ND

11TH

13TH

36TH 16TH 12TH

18TH

17TH

19TH 30TH 20TH Liberty Bell

22ND

23RD 24TH Shops at CHESTNUT STREET Liberty Place CHESTNUT STREET

Thomas Jefferson Independence Hall S COLUMBUS BOULEVARD UPenn Law School University Hospital

SANSOM STREET SANSOM STREET STREET FRONT UNIVERSITY OF PENNSYLVANIA Penn’s Landing WALNUT STREET RITTENHOUSE ROW SHOPPING DISTRICT WALNUT STREET Shops at the Bellevue RITTENHOUSE UNIVERSITY SQUARE SQUARE SHOPPING DISTRICT WASHINGTON The Palestra LOCUST STREET SQUARE PENN PARK Academy of Music UPenn: Wharton School of Business Independence Historic Center

25TH Merriam Theater Franklin Field Wilma Theater SPRUCE STREET SPRUCE STREET University of Pennsylvania Kimmel Center for UPenn Hospital Museum of Archaeology The Performing Arts & Anthropology Rosenbach Museum

UPenn School of Medicine PINE STREET ANTIQUE ROW PINE STREET Penn Medicine Headhouse Square

at Rittenhouse AVENUE OF THE ARTS THE OF AVENUE

26TH Suzanne Roberts Theatre Children’s Hospital LOMBARD STREET LOMBARD STREET of Philadelphia STARR GARDEN PARK SCHUYLKILL EXPRESSWAY SOUTH STREET SHOPPING DISTRICT SOUTH STREET SOUTH STREET Theater of the Living Arts

27TH BAINBRIDGE STREET BAINBRIDGE STREET

FITZWATER STREET FITZWATER STREET

Philadelphia International Airport Lincoln Financial Field E. PASSYUNK AVENUE EXPRESSWAY DELAWARE Citizen’s Bank Park

CHRISTIAN STREET CHRISTIAN STREET ITALIAN MARKET ITALIAN

CARPENTER STREET

WASHINGTON AVENUE

ELLSWORTH STREET

Represents Dranoff Projects

The Drexel Building AllanDombRealEstate 1435 Walnut Street, Philadelphia, PA 215.545.1500 [email protected] www.thedrexelbuilding.com www.allandomb.com

Although deemed accurate, this information is subject to errors, omissions and changes without notice. Boathouse Row SPRING GARDEN STREET

HAVERFORD AVENUE CALLOWHILL STREET

SPRING GARDEN STREET

31ST The Barnes Foundation The Victor Radio Lofts VINE STREET EXPRESSWAY VINE STREET EXPRESSWAY VINE STREET Cooper’s Crossing 2.6mi FRANKLIN

SQUARE 35TH BENJAMIN FRANKLIN BRIDGE LOGAN Venice Lofts 7.7mi SQUARE Hahnemann University Hospital POWELTON AVENUE RACE STREET RACE STREET

Academy of L I Natural Sciences Pennsylvania A National Constitution Center

R Convention

T Center

R African American Betsy Ross Cira Center E Museum

V Comcast Center House I ARCH STREET R ARCH STREET

L JFK STREET BROAD I PLAZA K Market East Station L Y JOHN F KENNEDY BLVD FILBERT STREET U Suburban Station

3RD

4TH

32ND 34TH

33RD SCHUYLKILL RIVER

C 30th Street Station S US Post Office MARKET STREET CITY HALL National Museum of

Drexel Law School American Jewish History

6TH

7TH

8TH DELAWARE RIVER DELAWARE

9TH 5TH

DREXEL UNIVERSITY 10TH

15TH

2ND

11TH

13TH

36TH 16TH 12TH

18TH

17TH

19TH 30TH 20TH Liberty Bell

22ND

23RD 24TH Shops at CHESTNUT STREET Liberty Place CHESTNUT STREET

Thomas Jefferson Independence Hall S COLUMBUS BOULEVARD UPenn Law School University Hospital

UPenn School of Medicine PINE STREET ANTIQUE ROW PINE STREET Penn Medicine Headhouse Square

at Rittenhouse AVENUE OF THE ARTS THE OF AVENUE

27TH BAINBRIDGE STREET BAINBRIDGE STREET

FITZWATER STREET FITZWATER STREET

Philadelphia International Airport Lincoln Financial Field E. PASSYUNK AVENUE EXPRESSWAY DELAWARE Citizen’s Bank Park

CHRISTIAN STREET CHRISTIAN STREET ITALIAN MARKET ITALIAN

CARPENTER STREET

WASHINGTON AVENUE

ELLSWORTH STREET

Represents Dranoff Projects

The Drexel Building AllanDombRealEstate 1435 Walnut Street, Philadelphia, PA 215.545.1500 [email protected] www.thedrexelbuilding.com www.allandomb.com

Although deemed accurate, this information is subject to errors, omissions and changes without notice. BUILDING OVERVIEW

The available space is located within The Drexel Building, a historic bank building with frontage on both Walnut and 15th Streets. The Drexel Building was built between 1925 and 1927 as the headquarters for Drexel and Company, which was subsequently dissolved in the 1930s. The building was built in a Renaissance Palazzo style; it is faced in ashlar granite and features a rounded entrance portal, low relief zodiac roundels and carved shields. The Drexel Building was added to the National Register of Historic Places in 1980.

The space is situated along a five-block section of Walnut Street with almost no vacant retail space. It is home to high-end retailers such as Apple, Barbour, Club Monaco, Guess, Intermix, Kenneth Cole, Lacoste, Lagos, Lululemon, Theory, Tiffany & Co., Tumi, Vince and Williams-Sonoma.

A R

C S US Post Oce MARKET STREET

CITY HALL 15TH

16TH

18TH

20TH 19TH 17TH

22ND 28 3 30 20 23 CHESTNUT STREET 6 21 7 34 5 19 SANSOM STREET 5 14 38 12 44 3241 3742 24 1 15 251622 18 17 14 WALNUT STREET ST. BROAD 3327 3539 26 2 4 31294043 10 8 RITTENHOUSE 6 36 SQUARE 11 9 LOCUST STREET 13

6 46 50 51 MAP SPRUCE STREET RESTAURANTS SHOPPING 42 1. Alma de Cuba 14. Anthropologie 27. Intermix10 41. Tumi 2. Butcher & Singer 15. Apple 28. Joan Sheep 42. Vince 3. The Continental 4316. Barbour 29. Kenneth Cole 43. Williams-Sonoma 4. Cheesecake Factory 17. Barnes & Noble 30. Knit Wit 5. The Dandelion 18. Barneys 31. Lacoste MISCELLANEOUS 6. Devon Seafood Grill 19. Benjamin Lovell Shoes 32. Lagos 7. Di Bruno Bros. 20. Bloomingdale’s, 33. Lululemon 44. Union League PINE8. STREETLacroix The Outlet Store 34. Nordstrom Rack 9. Parc 21. Boyds 35. Paper Source 10. Rouge 22. Club Monaco 36. Ralph Lauren 11. Schlesinger’s Restaurant 23. Five Below48 37. Steve Madden & Delicatessen 24. Free People 38. Sophy Curson 12. Serafina 25. Govberg Jewelers 39. Theory 13. Tequilas 26. Guess 40. Tiffany & Co. SUB BASEMENT, 2,593 SF

Mechanical Closet Fire Stair Maintenance Closet Not Surveyed Surveyed Not Surveyed MORAVIAN STREET MORAVIAN STREET WALNUT Electrical Closet Not Surveyed

Maintenance Closet Not Surveyed

15TH STREET

BASEMENT, 4,776 SF

Toilets

Not Surveyed

Toilets

Women’s Locker Room

Men’s Women Locker Room Showers MORAVIAN STREET MORAVIAN STREET WALNUT

Not Surveyed

Storage

15TH STREET GROUND FLOOR, 5,185 SF

Area Not Surveyed MORAVIAN STREET MORAVIAN STREET WALNUT

Stairs Stairs

15TH STREET

MEZZANINE ONE, 5,893 SF

Open To Below

Open To Below MORAVIAN STREET MORAVIAN STREET WALNUT

Stairs Stairs

15TH STREET MEZZANINE TWO, 5,585 SF

Open To Below

Open To Below MORAVIAN STREET MORAVIAN STREET WALNUT

Stairs Stairs

15TH STREET

PHILADELPHIA OVERVIEW

With over 183 thousand residents in Greater Center City, over 1.5 million residents within Philadelphia county and about 6.2 million in the greater Philadelphia area, the city of Philadelphia, touted as the “next great city” by National Geographic Traveler, is the second largest city on the east coast behind New York City, making it the fifth largest in the country. Philadelphia’s long and rich history is complemented by its strong diverse economy, central location and exceptional quality of life. All of these attributes have combined to make Philadelphia one of the most dynamic and sought-after cities in the country to work, live and play. Adding to Philadelphia’s attractiveness is the city’s commitment to its continued economic growth and prosperity. Urged on by local businesses and residents, Philadelphia’s government has been actively discussing lowering privilege and wage taxes.

Commonly called Center City, Philadelphia’s downtown central business district is a thriving commercial area with award-winning office towers, internationally-acclaimed education facilities, renowned medical institutions and businesses, including numerous high-end luxury hotels, and over 3,000 store fronts.

Center City’s renaissance into a diverse work-live-play environment has attracted many new, young, and highly educated workers which have been drawing numerous employers to the region. As a result, Center City’s core population grew over 16.4 percent over the last decade, while household income simultaneously increased 45 percent. The combination of the City’s highly educated workforce, competitive rents, and first-rate living standards positions Philadelphia as one of the country’s preeminent cities of the future.

CENTER CITY RETAIL MARKET

The Center City retail market is home to Rittenhouse Row, one of the most exclusive shopping neighborhoods in the country, along with New York’s Fifth Avenue, Chicago’s Michigan Avenue and Boston’s Newbury Street. In 2015, Conde Nast Traveler named Philadelphia the 2nd best shopping city in the world. Since 2008, Center City has benefited from a comprehensive communications program that focuses on retail opportunities and trends. The public-private Philadelphia retail marketing alliance works collaboratively with major retailers and brokers to position Center City as an attractive retail location. The alliance includes the Center City District, the Philadelphia Convention & Visitors Bureau, the Greater Philadelphia Tourism Marketing Corporation, the City of Philadelphia, the Philadelphia Industrial Development Corporation and major downtown retail brokers.

The vacancy rate of the Rittenhouse and Market Street West areas, the submarket in which the property is located, boasts an even lower vacancy rate than the city’s already impressive vacancy rate as a whole. As of the second quarter of 2012, the submarket experienced a remarkable 2.8 percent vacancy rate, slightly higher than its five-year low of 1.7 percent seen in 2011, demonstrating the area’s ability to maintain strong demand and control their supply.

Center City Retail Facts

Retail Stores 1,017 Services 1,100 Food Establishments 956 Apparel Stores 226 Total Retail Spaces 3,073 Dollars of Retail Demand $741,767,867 Source: CCD PHILADELPHIA STATISTICS

The Greater Philadelphia population is about 6.2 million — fifth in overall population in the US and home to nearly 3 million workers.

The Philadelphia metropolitan statistical area is the fourth largest retail market in the US, with total demand for shoppers’ goods at $710.9 million within a 30-minute walk of city hall.

There are over 100 Fortune 500 companies located within a 20-mile radius of Center City Philadelphia.

Philadelphia has the second highest number of four-year colleges, second only to New York. There are more than 92 degree-granting institutions, of which 13 are located in Center City itself, with more than 33,000 students enrolled. Applications to Center City area colleges and universities increased 51 percent between 2002 and 2008.

POPULATION DEMOGRAPHICS

Philadelphia’s economy boasts a highly diverse employment base which helps to mitigate the effects of national or state recessions. As Center City continues to attract young, educated workers, Philadelphia’s economy will continue to transform itself into a more heavily concentrated knowledge-based economy. The downtown population’s educational attainment rate and median household income have consistently grown over the past 10 years. Between 2000 and 2010, household income for the Center City core increased 45 percent, from about $40 thousand to almost $60 thousand.

The employment market in Center City consists of a well-educated private-sector workforce of 221,484. As a result, Philadelphia was ranked third of cities with the highest percentage of private-sector downtown employees in 2009. Of this workforce, 39 percent are employed by management, professional and technology services, financial services and real estate, information and business services and support (collectively the office sector); 14 percent by retail, leisure and hospitality; and 7 percent by manufacturing, construction, wholesale trade, transportation, and utilities. The remaining consists of various other industries not large enough to measure independently.

A strong concentration in education and health services employment buffered Center City from the nationwide loss of more than 5.8 million jobs in 2009. Average annual employment grew by 1.2 percent national, and 0.2 percent in the Philadelphia suburbs, while Center City contracted slightly by 0.7 percent in 2011, following a stronger growth in 2010 and part of 2011 than the rest of the country.

ECONOMIC OVERVIEW

Stretching from Princeton, New Jersey to Wilmington, Delaware, the nation’s fifth largest metropolitan region is:

A global center for financial, legal and professional services

A model for advanced manufacturing practices

A leader in life sciences and information technology

A regional hub for higher education and health services

In the past, Philadelphia’s economy was dominated by manufacturing, which provided half of the city’s jobs. As manufacturing decreased, now accounting for just 3 percent of Center City’s employment, education and health services emerged as principal drivers of the local economy. Education and health services employment has grown by 17.2 percent city-wide since 2002 and now accounts for 35 percent of all Center City private-sector jobs. The education and health services sector continued its course of steady growth throughout 2011, where the sector achieved a year-over-year employment growth of 2.27 percent. This sector now accounts for over 36 percent of total Philadelphia employment. GREATER PHILADELPHIA HAS ONE OF THE MOST DIVERSE ECONOMIES IN THE NATION.

The commitment to Philadelphia by some of the nation’s largest companies, as most recently evidenced by GlaxoSmithKline and Comcast, is a strong indication of the region’s growing attractiveness to business. The region is now headquarters to twelve Fortune 500 companies, ranging from Amerisource Bergen to Comcast to Lincoln National. The wide breadth of companies has made a significant contribution to the broad economic base of Philadelphia, creating a stable regional economy and positive business climate. As the headquarters for the third district of the federal reserve, Philadelphia is a major money center. Major financial services companies located here include Beneficial, PNC Bank, Penn Mutual, SIG, Sovereign, and The Vanguard Group. As a result, Philadelphia is positioned to maintain its well-diversified economy while continuing to grow, expand, and prosper.

The City of Philadelphia is a primary focus of the area as a hub of transportation, culture and industry. Since 2007, development in Center City has totaled more than $12.3 billion in new housing, office buildings, medical facilities, academic buildings, arts and cultural projects, and new hotels.

EDUCATED WORKFORCE

The city of Philadelphia and its surrounding suburbs are home to leading universities specializing in biotechnology, business, finance, medicine, and technology. The area’s abundance of colleges and universities will continue to provide Philadelphia with the highly educated workforce necessary to support sustained economic growth.

Center City Population Growth

Year 1990 2000 2011 2000-11 Growth Center City Core 45,214 49, 211 57,295 16.43% Greater Center City 154,158 153,950 181,049 17.60%

The Drexel Building AllanDombRealEstate 1435 Walnut Street, Philadelphia, PA 215.545.1500 [email protected] www.drexelbuilding.com www.allandomb.com