Ventas buys Philadelphia building for $45M – Philadelphia Business Journal

Real estate investment trust Ventas Inc. acquired the 118,000-square-foot building at 3440 Market St. in Philadelphia for $45 million from a partnership involving University City Science Center, the Philadelphia Business Journal reported.

Children's Hospital of Philadelphia and the University of Pennsylvania are the two anchor tenants of the building, which was 94% leased at the time of the sale.

The property is part of the uCity Square community in the University City neighborhood that Ventas is developing in partnership with Wexford Science & Technology and the Science Center.

CBRE Group Inc. arranged the sale.