PernaFrederick Arranges Three Office Renewals Aggregating 10,500 SF Worth $862,000

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented two building owners in negotiating office lease renewal agreements for approximately 10,600 square feet of space here that have a combined aggregate rental exceeding $862,000.

Joe Viturello, a vice president at PernaFrederick, closed all the space contracts, two of which were for the North American Building at 121 South Broad Street.

In the largest of the renewals, Viturello represented ADR North American L. P., in extending a lease for 6,610 square feet on the 14th floor of 121 South Broad that is occupied by Gerolamo McNulty Divis & Lewbart, a law firm specializing in automobile negligence, employment law, general casualty, medical malpractice, product liability and workers compensation litigation.

Michael Gallagher, a broker with the Flynn Company, cooperated with PernaFrederick and represented the tenant in finalizing the terms of the renewal that will continue the law firm’s presence in the building to the later years of this decade.

In the second renewal at 121 South Broad, Viturello was the sole agent who extended a lease for Educational Testing Service that occupies approximately 1,743 square feet on the 17th floor of the 21-story building. Educational Testing Service established its offices in the North American Building in 2009 under terms of an agreement that was also brokered by PernaFrederick.

In the third renewal, Viturello represented 1608 Walnut Street Associates, L. P., in the extension of a lease for approximately 2,259 square feet of office space on the 11th floor of the 19-story building that is occupied by Univision.

Adriano Calvanese, a broker with CBRE, represented Univision in finalizing the terms of the renewal.

Univision operates WUVP-DT, virtual channel 65 (UHF digital channel 29), a Spanish language television station serving the Philadelphia marketplace that is licensed to Vineland, New Jersey. The station is owned by Univision Communications, and is a sister station to UniMás owned-and-operated station WFPA-CA (channel 28).

PernaFrederick is a Philadelphia-based full-service commercial real estate firm that offers principal to principal relationships serving tenants, landlords and investors, and acts as a project consultants to leading companies in the Philadelphia region.