Efforts to reimagine the retail portion of Philadelphia’s historic Wanamaker Building are moving forward, now marketing the property to prospective tenants.

The 300,000 square feet spanning the first three floors, formerly occupied by Macy’s, has been vacant since the retailer closed this past spring — a setback for the already challenged Market East corridor. Situated across from City Hall in the heart of Center City, the space presents a rare opportunity to anchor the area’s revitalization.

TF Cornerstone, which has owned the retail portion since 2019, recently acquired the remainder of the Wanamaker property — primarily office space — in a foreclosure sale. Plans for the building include retaining floors four and five for office use, converting floors six through eleven into residential units, and maintaining the Crystal Tea Room event venue on the ninth floor. The twelfth floor is expected to serve as a mix of residential amenities and potential commercial space.

*Article courtesy of Philadelphia Business Journal

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