Cushman & Wakefield has been exclusively retained to offer for sale The Hale Building (the “Property”), a 49,849-square-foot mixed-use asset located at 1326–1328 Chestnut Street in Philadelphia’s vibrant Midtown Village neighborhood.

Originally constructed in 1887 and extensively renovated in 2018, this iconic property is currently 75% leased with a weighted average lease term (WALT) of 7.9 years. The building features two established retail tenants occupying the ground and mezzanine levels—Blind Barber and Barcade—as well as Spaces, the Regus branded coworking operator, occupying floors 3, 4, 6, and 7.

Regus recently “right-sized” its footprint by vacating floors 5 and 8 while simultaneously extending its lease term for nearly 10 years. This creates a compelling value-add opportunity for a new owner to reposition and lease the available space. The eighth floor is especially unique, featuring an exclusive rooftop deck that offers potential for creative future uses, including residential or hospitality concepts.

The Property was originally developed by renowned architect W.G. Hale, celebrated for his flamboyant and highly ornate Victorian style that defined much of the architectural character of the 1880s. Ideally situated in the heart of Philadelphia’s CBD within Midtown Village, the Property benefits from an exceptional Walk Score of 99, with immediate access to mass transit, premier dining, shopping, and the city’s thriving arts and cultural institutions.

According to Placer.ai and the Center City District, Midtown Village ranks among the top three neighborhoods in Center City Philadelphia for pedestrian traffic. Additionally, Jefferson University Hospital System—located just blocks from the Property and spanning more than four city blocks—serves as a major economic engine driving over $2 billion in ongoing investment throughout the surrounding area.

All inquiries should be directed to Cushman & Wakefield.