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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 percent leased, was acquired against a three way partnership with Philadelphia-based Cross Properties and 806 Capital that came from the Isard-Greenberg Company, which owned the building for greater than 3 decades.Plans of the property involve possible conversion with a residential use as time passes.Jones Lang LaSalle has long been retained to manage the building.1616 Walnut encompasses 188,560 square feet of work place, 7,210 square feet of retail space as well as 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 along with the regional rail lines at Suburban Station.In-built 1929, 1616 Walnut Street PA was lauded as a possible architectural marvel long ago, receiving top honors at the 12th International Buildings Congress in Budapest. Its five-story parking garage managed to get one of the first properties to feature on-site parking, that was then considered a novelty. The iconic property was listed in the National Register of Historic Places in 1983 and the Philadelphia Register of Historic Places on January 7, 1982.1616 Walnut marks FCP�s second acquisition in downtown Philadelphia as the company�s costs of 1701The new owners of the building would like to �detenant� 1616 Walnut. Does anyone notice any similarity between destroy, demolish, destruct and detenant? Yes, they do possess the right to not renew your lease. However, there are many things which protect you from being �thrown into your street�