Bauman Rare Books Extends Lease for 11,186 SF at 1608 Walnut in $1,350,000 Agreement Brokered by PernaFrederick

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented 1608 Walnut Associates, L.P., owner of 1608 Walnut Street here, in the renewal of a lease for approximately 11,186 square feet of office space occupied by Bauman Rare Books.

Joe Viturello, a vice president at PernaFrederick, represented building ownership in negotiating the renewal agreement, while Andrew Margolis, principal of A Margolis Realty, represented Bauman Rare Books.

According to Viturello, the aggregate rental of the renewal exceeds $1,350,000.

Bauman Rare Books opened its first offices in Philadelphia in 1982 and is located on the 19th floor of 1608 Walnut Street where its books are researched, documented and photographed, as well as where its catalogues are produced. The space, on the top floor of the building, was once the executive offices of Sun Oil and features wrap-around balconies that offer panoramic views of center city.

In addition, 1608 Walnut is the home of a substantial sales team and core staff that supports other Bauman Rare Book locations. The renewal will extend Bauman’s presence in 1608 Walnut to the later years of this decade, Viturello said.

Built in 1929 as the headquarters of Sun Oil Company, 1608 Walnut Street contains approximately 228,000 square feet of office space that has been fully modernized and upgraded to class A office standards.