The Shops at Liberty Place in Center City Philadelphia are up for sale

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A massive retail footprint located on Chestnut Street in Center City has hit the market, opening the door for a suitable investor to lock up a piece of real estate spread across two skyscrapers.

As reported by the Philadelphia Business Journal, The Shops at Liberty Place is being pitched as “one of Philadelphia’s premier shopping corridors” with more than 147,000 square feet of retail space. The listing from ​​Jones Lang LaSalle Americas does not include a price.

Part of the pitch centers on the amount of foot traffic near One and Two Liberty Place, which spans across 3 million square feet of office and residential space. The listing says commuter and visitor traffic “has exceeded 5.1 million annual visitors in recent years.”

The property lies on one of “Philadelphia’s most highly trafficked intersections” with more than 14,000 vehicles driving through each day.

According to the Business Journal, The Shops at Liberty Place has an occupancy rate of 78% with more than 30 tenants, including Bloomingdale’s and Puttshack, while businesses such as Auntie Anne’s and Subway occupy the food court.

The property was purchased by Metropolis in 1999 for $250 million, $220 million for One Liberty Place and $30 million for the retail portion. Coretrust Capital Partners owns Two Liberty Place.

Last month, Franklin Mall in Northeast Philadelphia went up for sale after seeing declines in foot traffic and tenants for years. The roughly 1.6 million-square-foot retail giant is being pitched as a strong candidate for redevelopment.

Last year, the Macy’s at the historic Wanamaker Building in Center City closed, leaving the building without a retail store for the first time in 149 years. The year before its closing, 280 retail thefts were reported to police, resulting in $56,000 in profit losses.