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1616 Walnut Street PA Evictions - A Sitting Tenant's RightsChevy Chase, MD-based Federal Capital Partners has acquired 1616 Walnut Street, a 25-story, 279,770 square foot office building in Center City, Philadelphia.The property, currently 90% leased, was acquired via three way partnership with Philadelphia-based Cross Properties and 806 Capital coming from the Isard-Greenberg Company, which owned the building for 3 decades.Plans of the property conprise of a possible conversion into a residential use as time passes.Jones Lang LaSalle continues to be retained to handle the building.1616 Walnut encompasses 188,560 square feet of a new office, 7,210 square feet of retail space plus a 160-space integrated parking garage. The building is proximate to transit options including Septa bus routes, the Market-Frankford and Broad Street subway lines and also the regional rail lines at Suburban Station.In-built 1929, 1616 Walnut Street PA was lauded being an architectural marvel back then, receiving top honors along at the 12th International Buildings Congress in Budapest. Its five-story parking garage got there among the first properties to feature on-site parking, that was then considered a novelty. The long-lasting property was listed on your National Register of Historic Places in 1983 along with the Philadelphia Register of Historic Places on January 7, 1982.1616 Walnut marks FCP’s second acquisition in downtown Philadelphia as the company’s investment in 1701The new owners of the building desire to “detenant” 1616 Walnut. Does anyone notice any similarity between destroy, demolish, destruct and detenant? Yes, they actually have the right to not renew your lease. However, there are various things which guard against being “thrown directly into street”