MSC has begun its marketing effort to promote 300,000 square feet of reimagined retail space within the historic Wanamaker Building to prospective tenants, writes Paul Schwedelson for the Philadelphia Business Journal.
Macy’s vacated the first three levels of the building earlier this year, which was a major setback to the struggling Market East commercial corridor. The space occupies a full city block next to City Hall, right in the heart of Center City. Its transformation could serve as a catalyst for the revitalization of Market East.
TF Cornerstone, which has owned the former Macy’s space for six years, recently acquired the remainder of the building through a foreclosure sale. The company will retain floors four and five as office space, while floors six through 11 will be converted to residential units. The twelfth floor is expected to include amenity room for residents, as well as additional commercial retail tenant space.
MSC has been retained to lease both the former Macy’s space and part of the top floor.
“It’s one of the more historically significant retail spaces in the United States and it’s coming at a really critical time in Philadelphia’s history for East Market,” said MSC Principal Douglas Green.
Read more about the Wanamaker building and the kickstart to bring in new tenants in the Philadelphia Business Journal.
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Editor’s Note: This post was originally published on PHILADELPHIA.Today in August 2025.
