PernaFrederick Negotiates Three Leases For 11,000 SF Having A Combined Aggregate Rental Exceeding $1.4 Million

PHILADELPHIA, PA— PernaFrederick Commercial Real Estate has arranged three office lease agreements for approximately 11,045 square feet of downtown space here that have a combined aggregate rental exceeding $1.4 million.

Joe Viturello, a vice president at PernaFrederick, arranged all of the agreements that will relocate two companies to 1608 Walnut Street and a third firm to 1218 Chestnut Street.

At 1608 Walnut, the Trust for Public Land has leased approximately 3,600 square feet on the third floor of the 19-story building in a relocation from 1501 Cherry Street. Brett Fox, a broker with M.S. Fox Real Estate, cooperated with PernaFrederick and represented the Trust for Public Land in negotiating the long-term agreement while Viturello represented 1608 Walnut Street Associates, the private investment partnership that owns the 232,000 square foot building.

In the second lease at 1608 Walnut, SP Plus Corporation is moving from 1835 Market Street to some 1,845 square feet also on the eighth floor. PernaFrederick represented both the Landlord and Tenant in finalizing the terms of the lease.

At 1218 Chestnut Street, Viturello represented Blackfynn Apex Holdings, LLC, in an expansion of its offices to some 5,600 square feet on the eight floor of 1218 Chestnut from smaller offices at 121 South Broad Street. The brokerage team of David Mendez and Kevin Maloney at CBRE represented Bailey Chestnut Partners, L.P., the building owner, in finalizing the lease terms.

Blackfynn is a privately-owned life sciences company focused on the development of a data platform to enable integration and analysis of complex, multimodal research and clinical data to enable better therapeutics and clinical care for patients with neurologic disease.

SP Plus Corporation is a diverse provider of professional parking, ground transportation, facility maintenance, security, and event logistics services to real estate owners and managers in a wide array of markets.

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