PHILADELPHIA, Jan. 14, 2026 –  JLL Capital Markets announced today that it has arranged the sale of 1619 Walnut Street, a premier mixed-use asset located in Philadelphia's prestigious Rittenhouse Square neighborhood.

JLL represented the seller, Nuveen Real Estate. The buyer was MZP AG, a private investor based in Switzerland

Strategically positioned at 1619-1621 Walnut St. in Center City Philadelphia's premier shopping district, directly adjacent to Rittenhouse Square, this prime location offers excellent visibility along the highly trafficked Walnut Street corridor, known for its luxury retail establishments and proximity to major employment centers. The area features convenient access to Philadelphia International Airport, extensive SEPTA transportation networks and is within walking distance to numerous high-end hotels, restaurants and cultural amenities that define the neighborhood.

Center City Philadelphia is home to an estimated 203,500 residents as of 2023, representing a 39 percent increase since 2000, making it the fastest growing residential section of Philadelphia. The neighborhood attracts young professionals in finance, law, medicine and technology, with residents averaging $159,931 in annual household income and 86 percent holding bachelor's degrees or higher.

The six-story mixed-use building totals 34,795 square feet and was originally constructed in 1937 with renovations completed in 2009. The property is currently 11% percent occupied with New Balance occupied the ground floor. The asset features CMX-5 zoning, providing the highest development capacity by-right in Philadelphia with a maximum floor area ratio of 1,200 percent plus additional bonuses. The rectangular floor plates measuring approximately 4,900 square feet per floor make the building an ideal candidate for conversion to boutique residential units.

JLL Capital Market’s Investment Sales and Advisory team was led by Senior Managing Director Jim Galbally, Fran Coyne, Carl Fiebig, Senior Director JP Colussi and Director Patrick Higgins.

"1619 Walnut Street represents a rare opportunity to acquire a retail, mixed-use asset along Walnut Street, Philadelphia’s premier high avenue," said Galbally. "The property's premier location along Walnut Street, combined with significant value-add potential through lease-up or residential conversion, made it an attractive investment for the buyer."

"With its CMX-5 zoning and rectangular floor plates, this asset provides exceptional flexibility for future development or repositioning," added Higgins. "The property's location in one of Philadelphia's most desirable neighborhoods, coupled with strong demographic fundamentals, positions it well for long-term value creation."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.