PernaFrederick Brokers Office Lease for 9,500 SF Having Aggregate Rental Exceeding $1.7 Million

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented Philadelphia Academies, Inc., in the lease of some 9,500 square feet on the 9th floor of the 103,000 square foot building at 1401 Walnut Street here.

The brokerage team of Steve Perna, a principal of PernaFrederick, assisted by Dan Gummel, a vice president of the firm, brokered the long-term space contract that has an aggregate rental exceeding $1.7 million.

Philadelphia Academies, Inc., founded in 1969, is a nonprofit youth development organization working to change life outcomes for kids using first-of-its-kind career academies. It is the only local youth development nonprofit supporting the career academy model in Philadelphia high schools.

Philadelphia Academies is presently located in approximately 8,144 square feet at 230 South Broad Street and will relocate to 1401 Walnut on or about March 15th of this year.