5548-5554 Chestnut Street – 5553 Sansom Street – 136 S. 56th Street


This property is a 2 story 44,250 square foot multi-tenanted office property built in the 1980’s. It was occupied by the Philadelphia Welfare Office for 20 years and then stood vacant for 5 years.  SmithHouston Inc. took over this property in 2006 and renovated it into a modern office space which includes two parking lots for 25 parking spaces and secured garage.  Currently the building houses several non-profit tenants. This property is ideally located next to all essential public transportation and major shopping amenities.  This is consistent with the strategic development of office multipurpose complex for the area. In addition, via a refinance at end of the term of the loan and increased rents, we were able to make essential updated improvements that gave the complex another 15 years of new life.