4101 Woodland Avenue
Philadelphia, PA
Executive Summary
Cushman & Wakefield is pleased to offer the exceptional opportunity to acquire 4101 Woodland Avenue, a 55,000 square foot office building with a total of 49 parking spaces. The Property features 36 surface parking spaces in the main lot and an additional 13 parking spaces on a 5,303 square foot parcel. 4101 Woodland Avenue is 98% leased with a weighted average lease term of 9.6 years. The building sits on .80 acres and is centrally located in Philadelphia’s premier University City submarket. The Property is ideally located adjacent to the some of the nation’s top research institutions including the University of Pennsylvania, Children’s Hospital of Philadelphia, Drexel and the Wistar Institute. Its location also benefits from the explosion of development in the submarket with over 4,200 multi-family units being added by 2026 and 2.5 million square feet of commercial/lab space currently under construction.
With an occupancy of 98% and weighted average lease term of 9.6 years, 4101 Woodland offers investors with an immediate and stable income stream for the foreseeable future. The U.S. General Services Administration (S&P “AA+) occupies 27,852 square feet and Dunkin’ Donuts (S&P “B+”) occupies 1,570 square feet. In addition to the immediate income, the property offers investors with a long term mixed-use redevelopment opportunity.
Investment Highlights
4101 Woodland is 98% leased with an weighted average lease term of 9.6 years. The largest tenant is the U.S. General Services Administration (GSA), which totals 27,852 square feet with an S&P credit rating of “AA+”.
University City is the region’s leader in education, research, and innovation. The 2.4 square mile neighborhood boasts world-class institutions that have catalyzed nearly 80,000 jobs led by the city’s #1 and #5 largest employers in The University of Pennsylvania and Children’s Hospital of Philadelphia.
University City is a nationally recognized hub for advances in health and life sciences. Cutting-edge medical innovations originate out of world class research institutions such as The University of Pennsylvania and Penn Health System, Children’s Hospital of Philadelphia, and The Wistar Institute and fueled by growing innovation districts at uCity Square and Schuylkill Yards. This confluence of world class research and innovation ecosystems led to Philadelphia ranking at #6 in top U.S. metros for life sciences research talent.
The building sits on .8 acres and is zoned for mixed use development (CMX-2). The surrounding area is a historic community with treelined streets and large Victorian era homes, some converted to multi-family housing. With the formation of the Penn Alexander public school, a venture between the University of Pennsylvania Graduate School of Education and the School District of Philadelphia, the area became one of the most attractive residential districts for young families. This influx of new residents, retail and restaurants resulted in the creation of a vibrant live-work-play community. Nearby Clark Park is a vibrant community space with outdoor recreation, youth soccer leagues, farmers markets, fairs, summer outdoor movie theaters and Shakespeare in the park theatre.
Whether by trolley, bus, bicycle, train, scooter, or on foot, getting around in this neighborhood is a breeze. Continued infrastructure investments including new Indego bikeshare docks, reimagined main thoroughfares, and improvements to 30th Street Station have led to University City’s status as a “paradise” for walking, biking, and public transit from Walkscore.com. 4101 Woodland sits only one block from the recently re-imagined 40th Street Trolley and Transit portal, providing easy access to University City, Center City, and West Philadelphia.
Over 55,000 people choose to live in University City, ranging from lifelong residents to young parents to transient students. The residents skew young, educated, and ethnically diverse, with nearly 19% of residents born outside of the United States and 25% of households speaking non-English languages within their homes. 4,200 units of multi-family units will be added by 2026 to meet the growing demand for those wanting to call University City home.
