PernaFrederick Represents Three Tenants in Lease of 10,078 SF Having Aggregate Value Exceeding $1.1 Million

PHILADELPHIA, PA — The brokerage team of Joe Viturello and Mike Anderson at PernaFrederick Commercial Real Estate have represented three tenants in the lease of approximately 10,078 square feet of center city office space here with a combined aggregate rental exceeding $1.1 million.

According to Viturello, the largest of the agreements involves the relocation of The Philadelphia Education Fund to 4,532 square feet at the Cast Iron Building, 717 Arch Street.  The Fund is presently located at the United Way Building, 1709 Ben Franklin Parkway, and will move to the Cast Iron Building in February.

Tom Kramer, a principal of TDK Commercial Advisors, cooperated with PernaFrederick and represented Delancey Arch Associates, the owner of 717 Arch Street, in finalizing the multi-year space contract that has an aggregate rental exceeding $665,000.

At One South Broad Street, Viturello and Anderson represented Magnum Integrated Marketing in the lease of some 3,829 square feet on the 15th floor of the 25-story building.  Magnum is also moving from the United Way Building to the new South Broad Street location.  That relocation is scheduled for January.

Matt Guerrieri, a broker with Newmark Grubb Knight Frank, cooperated with PernaFrederick and represented One Broad LP, the private real estate investment partnership that owns the 25-story, 465,000 square foot structure.

In the last agreement, Viturello was the sole agent who represented Altitude Group, Inc., in the lease of approximately 1,717 square feet at The Philadelphia Building, 1315 Walnut Street.  The lease will commence in February and the space will be the new US office for the firm that is headquartered in Manchester, England.

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