PernaFrederick Brokers 3 Lease Agreements for 9,300 SF with Aggregate Value of More than $1 Million
PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented two tenants and one building owner in the negotiation of three lease agreements for approximately 9,300 square feet of downtown office space that have a combined aggregate rental exceeding $1 million.
Joe Viturello, Michael Anderson and Dan Gummel at PernaFrederick brokered all of the space contracts.
In the largest of the leases, BI, Inc, a subsidiary of The GEO Group (NYSE: GEO), has leased approximately 3,870 square feet on the 7th floor of 1401 Arch Street for the relocation of its offices previously at 42 South 15th Street.
Viturello represented AFIAA Arch Street, LLC, the building owner, in finalizing the lease, while Steve Stefanski, a broker with Cresa Partners, cooperated with PernaFrederick and represented BI, Inc., in finalizing the space contract that has an aggregate rental exceeding $440,000.
At One South Broad Street Viturello and Anderson represented Magnum Integrated Marketing in the lease of some 3,827 square feet on the 18th floor of the building that is owned by Broad One, L. P.
Matthew Guerrieri, a broker with Newmark Grubb Frank Smith, represented the landlord.
Magnum lntegrated Marketing is relocating to One South Broad from 1500 Walnut.
In the third agreement, Matt Frederick and Dan Gummel of PernaFrederick represented ASI, the owner of Two Penn Center, in the lease of some 1,600 square feet on the third floor of the building to the law firm of Philip N. Pasquarello. The law firm was represented in the lease negotiations by Michael Anderson and is relocating to Two Penn Center from 1218 Chestnut Street.
According to Gummel, the aggregate value of the lease is approximately $260,000.
