Pernafrederick Brokers Five Center City Office Space Agreements For 23,400 Square Feet Worth $2.7 Million
PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented three building owners and two tenants in the lease of approximately 23,400 square feet of office space here that have a combined aggregate rental exceeding $2.7 million.
Joe Viturello, a vice president at PernaFrederick, closed three of the space contracts, while the team of Viturello and Matt Frederick, a principal of the firm, closed leases for IOP Publishing and the owner of Archworks at 117-25 N. 8th Street.
Two of the five leases were for buildings located on South Broad Street.
In the largest of the leases, Matt Frederick represented IOP Publishing in the expansion of its offices to 6,300 square feet on the 6th floor of the American College of Physicians building at 190 N. Independence Mall.
IOP Publishing is headquartered in the United Kingdom and the space at 190 N. Independence Mall will be the North American headquarters of the firm that publishes Physics related texts and periodicals. IOP Publishing is expanding it offices to the new location from 4, 500 square feet that it has occupied in the Public Ledger Building.
In the second lease, the team of Viturello and Frederick represented Archworks Philadelphia, LLC, the investment partnership that owns 117-25 N. 8th Street, in the lease of approximately 6,100 square feet on the 8th floor of the building to EPAM Systems, Inc., (NYSE:EPAM).
Kevin Maloney, a broker with CBRE in Philadelphia, cooperated with PernaFrederick and represented EPAM in finalizing the lease.
EPAM opened its Philadelphia office in the Sheridan Building last September and is a leader in driving breakthrough omni-channel strategies, experiences and solutions that deliver superior ROI for Fortune 500 and fast-growth organizations, serving brands all over the world, such as Sony, NBCU, Sephora, AIG, DirecTV and Adidas.
At Riverview, 1300 South Columbus Boulevard, Viturello represented Cedar Riverview, L. P., the building owner, in the lease of some 4,200 square feet on the first floor to Geo Re-Entry Services in an agreement co-brokered by Jeff Zimmerman and Jay Johnson of CRESA Partners who represented Geo Re-Entry Services in closing the space contract.
At 230 South Broad Street, Viturello represented MJ Settelen Construction, LLC, in the expansion of a lease that now accounts for approximately 3,509 square feet of office space on the 11th floor of the 21-story building.
MJ Settelen provides expertise in many market segments, with a particular focus on corporate interiors, medical offices, hotel renovations, multi-unit residential and retail spaces. It offers professional services in pre-construction, project management, general construction, value engineering and consulting, delivering the highest quality of work from preconstruction to completion.
Eric Muller, a broker with SSH Real Estate, the managing agent for the building, represented 230 South Broad, L.P., in finalizing the terms of the renewal.
At 1833-39 South Broad, Viturello represented Raj Land, the landlord, in negotiating a lease for approximately 3,300 square feet on the 2nd floor of the three-story building that is being occupied by Home Helpers.
Frank Genzano, a broker with Coldwell Banker Preferred – Old City, represented Home Helpers finalizing the space contract.
