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Equity Commonwealth puts BNY Mellon Center in Philadelphia up for sale

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Equity Commonwealth puts BNY Mellon Center in Philadelphia up for sale

Office real estate investment trust Equity Commonwealth could close one of the largest real estate deals in Philadelphia's Center City with its plan to sell the 54-story BNY Mellon Center, its last remaining property in the area, the Philadelphia Business Journal reported.

HFF investment broker Doug Rodio, who is marketing the 1735 Market St. office tower, said the asset could be priced in the "$500 million range," the publication added.

The building spans 1.3 million square feet and is 91% occupied, the publication added, citing company documents.