Colliers International brokers 8,500 s/f in Iconic Drake Building
Philadelphia, PA — Cathy Coate of Colliers International in Philadelphia represented InterAct Theatre Company in the lease of 8,500 s/f of space in the old Drake hotel ballroom space behind the Kimmel Center at 1512 Spruce St. The space was previously leased by University of the Arts for rehearsal and performance space. Marc Wiser of Legend Properties represented the owner, FC Drake Associates, L.P.
InterAct is relocating from the 106-seat Adrienne Theatre on Sansom Street. The move puts them into closer proximity to the Avenue of the Arts. They plan to put two theaters in the former ballroom space for use by four other theater companies as well. This will be the only active multi-company theater space in the city.