VALUE-ADD / OPPORTUNISTIC
Located in the heart of downtown Allentown, Grand Plaza is a trophy-quality office headquarters building. Designed by world-renowned architect Robert A.M. Stern and built-to-suit for PPL Corporation in 2005, the building was the nation’s first LEED Gold Certified office building. It has won numerous architectural and sustainability awards and its half-acre public plaza has served as a gathering place for the Allentown community for 15 years. The building boasts 30,000 SF floor plates, and 8-story atrium, winter gardens, a green roof, retail and food amenities, and several outdoor patios. We acquired the largely vacant property by buying the distressed debt shortly after PPL vacated the property, following the spinoff of PPL’s power generation business, Talen Energy.