PernaFrederick Arranges Three Center City Space Agreements for 15,913 SF Worth $1.5 MILLION

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented three tenants in the lease of approximately 15,913 square feet of center city office space having an aggregate value of approximately $1.5 million.

Matt Frederick, a principal of PernaFrederick, and Joe Viturello a vice president, negotiated the long-term lease agreements that involve a renewal at 1600 Market Street, a move to Archworks, 117-125 North 8th Street, and a relocation to 230 South Broad Street.

In the largest of the leases, Maxercise, a mixed martial arts training academy, is moving from 707 Chestnut Street to 6,100 square feet on the sixth floor of Archworks. Maxercise offers specialized training in the martial arts and is expanding its facilities in the move to Archworks.

Frederick and Viturello were the sole brokers who arranged the lease with Archworks Philadelphia, LLC, the real estate investment corporation that owns the 8-story, multi-tenant building.

In the second agreement, Edelstein Law, LLP, has relocated to approximately 5,057 square feet on the ninth floor of 230 South Broad Street. The lease was co-brokered by Eric Muller and Brian Hitchings of SSH Real Estate who represented 230 South Broad, L.P., the building owner.

At 1600 Market Street, PernaFrederick represented the law firm of Ryan, Brown, Berger and Gibbons, PC, in the extension of an existing lease for some 4,753 square feet on the 14th floor of the 39-story, 825,000 square foot building.

Shane Funston, a broker with the NAI Geis Realty Group, cooperated with PernaFrederick and represented Hub Properties Trust, the building owner.