Archive for the ‘News’ Category

PernaFrederick Brokers Four Center City Office Space Agreements for 5,222 SF Worth $672,000

Tuesday, June 14th, 2016

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented four tenants and one building owner in the lease of approximately 5,222 square feet of office space here having a combined  aggregate rental exceeding $672,000.

8 Penn CenterIn the largest of the leases, Matthew Frederick, a principal of PernaFrederick and Joe Viturello, a vice president, represented the law firm of Michael Shaffer and Michael Gaier in the lease of an additional 3,020 square feet on the 4th floor of 8 Penn Center, 1628 JFK Boulevard.

Shaffer and Gaier specialize in personal injury and commercial litigation to offer a skill set that results a superior insight of the trends in these areas of the law.

At Penn Treaty Park Place, 1341 North Delaware Avenue, Viturello and Mike Anderson at PernaFrederick represented Supports Your Way in the lease of approximately 2,500 square feet on the 3rd floor of the building for the relocation of offices presently at 1213 Vine Street.

Supports Your Way operates in the physically handicapped home business within the social services sector.

The owner of Penn Treaty Park Place was represented in the lease negotiations by Vince Jolly, a broker with CVA Commercial Real Estate.

Under an agreement brokered by the team of Viturello, Anderson and Dan Gummel at PernaFrederick, America Works of Pennsylvania, an employment agency, has moved to some 1,745 square feet on the 7th floor of 1401 Arch Street.

Viturello represented AFIAA Arch Street, LLC, the building owner, while Gummel and Anderson represented America Works of Pennsylvania to finalize the space contract.

In the final agreement, Viturello represented Intuitive Counseling, LLC, a mental health counseling service, in the lease of 675 square feet on the 18th floor of 123 South Broad Street.  Brian Hitchings, a broker with SSH Real Estate, represented 123 South Broad Partners, the limited investment partnership that owns the building, in finalizing the long-term lease.

Community Integrated Services (CIS) Expands to 8,700 SF at 441 N. 5th

Thursday, April 28th, 2016

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented Community Integrated Services (CIS), in the expansion of its lease for office space at 441 North 5th Street here.

441 N. 5th St.Dan Gummel of PernaFrederick negotiated the multi-year agreement that will extend an existing lease and increase of size of CIS offices to approximately 8,700 square feet on the first floor of the four-story building. CIS has been situated in 6,337 square feet of the building since 2006 under an initial lease also negotiated by Gummel.

Gummel arranged the expansion and renewal with Miller Building Partners, L.P., owner of the 80,000 square foot structure, and will extend CIS’ tenancy at 441 North 5th Street to the later years of this decade. He disclosed no aggregate rental for the renewal.

CIS is the largest Philadelphia-based employment search and support agency that empowers people with disabilities to locate individualized employment opportunities that foster self-sustainability, equality and community.

CIS has served a multitude of companies that have included Sugarhouse Casino, Marshall’s, TJMaxx, Wal-Mart, WaWa, ShopRite, Giant, Trader Joe’s, Bottom Dollar Foods, Maggiano’s, Jefferson Hospital, the Haverford Gym and Green Pad Living.

Web Designer, Zivtech, to Move to 9,860 at One South Broad

Tuesday, March 22nd, 2016

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented  Zivtech, a web design and development company, in the negotiation of a long-term lease for approximately 9,860 square feet of class A office space at One South Broad Street.

One South Broad StThe multi-year agreement negotiated by Dan Gummel of PernaFrederick will more than double the size of Zivtech’s center city offices.  Matt Guerrieri and Craig Scheuerle, brokers with Newmark Grubb Knight Frank (NGKF), cooperated with PernaFrederick and represented Broad One L.P., owner of the 465,000 square foot building.  No aggregate rental was disclosed for the lease.

According to Gummel, Zivtech presently occupies some 4,420 square feet at The Philadelphia Building, 1315 Walnut Street, and will move to the 10th floor of One South Broad in early June.  Zivtech was named one of the best places to work in 2015 by The Pennsylvania Department of Community and Economic Development and the Central Penn Business Journal.

Clients of the firm include entities engaged in healthcare, pharmaceuticals, education, publishing, government, startups, and non-profits.  Zivtech also partners with other industry leading design and development firms to create reliable websites and web applications for organizations worldwide.

PernaFrederick Brokers Three Lease Agreements for 5,725 SF with Aggregate Value of More Than $425,000

Thursday, March 3rd, 2016

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented  three tenants in the negotiation of lease agreements for approximately 5,725 square feet of downtown office space that have a combined aggregate rental exceeding $425,000.

100 S. Broad StJoe Viturello at PernaFrederick represented Back on My Feet, a social service agency that works to combat homelessness, in the lease of approximately 2,000 square feet on the 21st floor of the Land Title Building at 100 South Broad Street.

Viturello and Karl Schwemlein of MS Fox Real Estate arranged the space contract with LTD Limited Partnership, owner of the 22-story, 366,000 square foot building that fronts South Broad between Locust and Sansom Streets.

At the Widener Building, One Penn Square, the team of Viturello and Dan Gummel arranged two leases for approximately 3,725 square feet.

In the largest of the agreements, Reed & MacKay Strategic Travel Management, a London, England headquartered travel agency, is establishing its U.S. corporate travel office in approximately 1,925 square feet on the ninth floor of the Widener Building.

In the second space contract Viturello and Gummel represented Solve Media, LLC, in arranging a lease for 1,799 square feet also on the ninth floor of the 18-story building. Matt Guerrieri, a broker with Newmark Grubb Knight Frank, cooperated with PernaFrederick and represented the building owner, Chestnut Street Realty, L.P., in finalizing the two leases.

Founded in Philadelphia in 2008, Solve Media is owned by Adiant, a digital media technology company that delivers the most innovative solutions for advertisers and publishers. It offers every type digital solution available to meet advertising or monetizing needs.

PernaFrederick Negotiates Neighborhood Nutrition Alliance Lease for 23,230 SF at Rodin Place

Monday, December 7th, 2015

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has arranged a long-term lease that will place Metropolitan Neighborhood Nutrition Alliance (MANNA) in approximately 23,230 square feet of office space at Rodin Place, 2000 Hamilton Street.

The brokerage team of Keith Kiner and Michael Anderson represented Rodin Market Partners, the building owner, in negotiating the contract that has an aggregate value of approximately $7.7 million.

Neil Brazitis and Sid Smith with Newmark Grubb Knight Frank cooperated with PernaFrederick and represented MANNA in finalizing the terms of the lease.

MANNA is moving it’s office from 2323 Ranted Street to the 2nd Story of Rodin Place in the summer of 2016 and will use the space for administrative functions as well as to prepare and deliver meals.

MANNA is a private, not-for-profit service organization that links the food industry with 248 partner agencies and is a member of Feeding America, the nation’s largest domestic hunger relief organization.

PernaFrederick Brokers Three Lease Agreements for 9,432 SF with Aggregate Value of More Than $1.23 Million

Tuesday, November 3rd, 2015

1515 Market StPHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented  three tenants in the negotiation of lease agreements for approximately 9,432 square feet of downtown office space that have a combined aggregate rental of $1.23 million.

In the largest of the agreements, Joe Viturello at PernaFrederick represented the law firm of O’Brien Rulis Bochicchio in the lease of approximately 5,182 square feet on the 15th floor of 1515 Market Street for the expansion of its offices in the 20-story, 500,000 square foot building.

The building owner, BRI1866 1515 Market, LLC, was represented in finalizing the lease by Alex Breitmayer, a broker with Jones Lang LaSalle.

At 1211 Chestnut Street Viturello and Michael Anderson represented the Philadelphia Center on Alcoholism (PCA) and other drug addictions, in finalizing a lease for 2,250 square feet that will provide for the relocation of the PCA from 1501 Cherry Street.

The building owner, 1211 Chestnut Realty Corporation, was represented in the lease negotiations by Eric Muller, a broker with SSH Realty.

In an expansion, Anderson represented The Peggy Browning Fund, which is moving to 2,000 square feet  on the 12th floor of the Land Title Building, 100 South Broad Street, from approximately 1,000 square feet the Fund currently occupies at 1528 Walnut Street.

Karl Schwemlein, a broker with M.S. Fox Realty, cooperated with PernaFrederick and represented the building owner, LTD Limited Partnership,  in finalizing the space contract.

PernaFrederick Real Estate Brokers Lease for 8,655 SF To Expand Offices of RJMetrics

Tuesday, October 27th, 2015

Widener BldgPHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented RJMetrics in the negotiation of a lease for an additional 8,655 square feet of class A office space in The Widener Building at One South Penn Square.

The new space contract was negotiated by Dan Gummel of PernaFrederick and will expand the offices of RJMetrics to more than 21,500 square feet on the fourth and 15th floors of the 18-story building.  Gummel negotiated the original RJ Metrics lease in December, 2013.

According to Gummel, Craig Scheuerle and Matt Guerrieri with Newmark Grubb Knight Frank cooperated with PernaFrederick and represented Chestnut Street Realty, the owner of The Widener Building, in finalizing the terms of the lease, for which no aggregate rental was disclosed.

RJMetrics helps online businesses make smarter decisions with their data and first moved its operations to the 15th floor of The Widener Building in early 2014.

 

PernaFrederick Arranges 21,660 SF Lease for Azavea at 990 Spring Garden

Sunday, October 25th, 2015

PHILADELPHIA, PA — Acting as the sole agent, PernaFrederick Commercial Real Estate has negotiated a full floor lease of approximately 21,660 square feet of office space at 990 Spring Garden Street for Azavea.

Under it’s new ownership,this former industrial Building at 990 Spring Garden Street, originally designed by renowned architect Rankin and Kellogg, who also designed Philadelphia’s U.S. Post Office at 30th and Market Street, is undergoing extensive renovations as creative loft style office spaces.

Located in the emerging Spring Arts district of Philadelphia’s Callowhill neighborhood, the building is the first to cater to Philadelphia’s thriving creative tech class, arts and culture, maker and crafts, and other innovative companies.  The newly designed modern common areas will help 990 Spring Garden be home to a mix of established organizations, start-ups, incubators , and entrepreneurs seeking to express their creativity with other like-minded individuals and groups.

Keith Kiner and Stephen Perna of PernaFrederick were the principal brokers who arranged the space contract for the entire fifth floor in the seven-story building. The efficient, “open landscape” office space combined with panoramic views of Center City help create a unique work environment for the growing firm.

Azavea specializes in the creation of geographic web and mobile software, as well as geospatial analysis services to enhance decision-making.  The firm is presently located in smaller facilities at 340 North 12th Street in Center City and will relocate to its new space on Spring Garden Street in March of 2016.

PernaFrederick is a Philadelphia-based full-service commercial real estate firm that offers principal to principal relationships serving tenants, landlords and investors, and acts as a project consultants to leading companies in the Philadelphia region. PernaFrederick has serviced this growing creative tech population in Center City and established themselves as the leader in servicing this sector.

PernaFrederick Arranges Four Leases for 32,240 SF of Office Space at Rodin Place

Friday, October 2nd, 2015

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has negotiated four lease agreements for approximately 32,240 square feet of office space at Rodin Place, 2000 Hamilton Street here.

The brokerage team of Keith Kiner and Michael Anderson at PernaFrederick arranged all of the space contracts as exclusive agents for Rodin Market Partners, the building owner.

In the largest of the leases, the Free Library of Philadelphia is moving into approximately 19,400 square feet under a long-term agreement for the second floor of the structure, while in the second space contract, Dress for Success has moved into approximately 5,000 square feet under an agreement co-brokered by Cathryn Coate of Colliers International who represented Dress for Success.

In the third agreement, College Possible has opened offices in some 4,000 square feet on the third floor of the 3-story building under a lease co-brokered by Margo Mocarski of CRESA Partners.

In the last lease, Crown Castle, the nation’s largest provider of shared wireless infrastructure, is occupying some 3,850 square feet in the concourse level of Rodin Place.  Crown Castle provides the services that people rely on to stay in touch, conduct business, and live their lives every day.

No aggregate rental was provided for the space contracts.

Limited Partnership Led by PernaFrederick Buys 410 Horsham Road for $2,450,000

Thursday, September 24th, 2015

410 Horsham RdHORSHAM, PA — A private limited real estate investment partnership led by Steve Perna and Matt Frederick, principals of PernaFrederick Commercial Real Estate, has purchased the 88,045 square foot, two-story office building at 410 Horsham Road here.

The building, built in 1990, once house the local offices of TNS and Morningstar and was purchased from First Niagra Realty of Buffalo, NY in a $2,450,000 Agreement of Sale negotiated by CBRE.

Situated on 7.6 landscaped acres with expansive exposure to Horsham Road (Route 463), 410 Horsham Road presents the opportunity for monument tenant signage to the over 31,000 cars daily and has on-site five-car parking for every 1,000 square feet leased. It is also accessible from Route 611.

Commenting on the purchase, Steve Perna said; “We believe 410 Horsham Road presents an excellent opportunity to enter a very mature and rebounding office market that has few large blocks of available space,” noting the building represents a prime redevelopment opportunity both as a corporate headquarters or multi-tenant building.

The two 44,000 square foot floors may be divided to suites of 22,000 square feet featuring continuous window lines and the property’s high exposure to Horsham Road, plus its multi-point access are ideal for a myriad of value-added office occupancies. Another amenity offered by 410 Horsham is its location next to the upscale Horsham Athletic Center, as well as a full service day care provider.

To attract those tenants, the partnership has started major renovations to include a new lobby, restroom upgrades, landscaping, facade, and other building system enhancements with completion of those improvements scheduled for early 2016.

PernaFrederick has selected the brokerage team of Mike Maloney and Tim Morris in the suburban office of Newmark Knight Grubb Frank to be the exclusive leasing agents for the property. Property management services will be provided by CBRE.

Tenants at 410 Horsham will join neighboring corporations with offices or operations fronting Horsham Road include Teva, Comcast and NextGen Healthcare.

PernaFrederick Brokers Four Center City Office Space Agreements for 12,800 SF Worth $1.2 Million

Friday, August 7th, 2015

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented four tenants in the lease of approximately 12,800 square feet of office space here having a combined aggregate rental exceeding $1.2 million.

417 N. 8th StJoe Viturello, a vice president at PernaFrederick, negotiated all of the agreements. At 417 North 8th Street, Viturello represented Tech Inpact in the extension of its lease for some 5,645 square feet on the 2nd floor of the building that is owned by 417 North Eight Associates. Tony Falcone, a broker at M.S. Fox Real Estate, represented building ownership in finalizing the renewal estimated to be worth over $450,000.

Tech Impact is a nonprofit whose mission is to ensure all nonprofits can use technology to better serve our world, providing hands-on technology support to make sense of anything from large-scale technology projects, to simple technology maintenance. It first leased space at 417 North 8th Street in 2011 and maintains a comprehensive suite of services that focus solely on the needs of nonprofits.

At 1515 Market, Viturello represented the SMART Transportation Division of the United Transportation Union in the extension of its lease for 2,413 square feet of office space on the 7th floor in a renewal agreement that was co-brokered by Alex Breitmayer of JLL who represented BRI 1866 1515 Market Limited Partnership in finalizing the renewal estimated to be worth over $326,000.

At 2708 Commerce Way in the Byberry East Industrial Park, Viturello negotiated a 2,845 square foot space contract for Smith Construction to move its corporate offices from 3331 Street Road in Bensalem to its new Philadelphia office on the 2nd floor of the 38,466 square foot building.

Matthew Shanahan , a broker with Colliers International, cooperated with PernaFrederick and represented the Commerce Way Office Complex, LP, in finalizing the lease that has an aggregate rental of approximately $195,000.

At The Philadelphia Building, 1315 Walnut Street, Viturello represented Park Ops in the lease of some 1,852 square feet on the 13th floor of the building. Park Ops is a valet parking company that provides valet parking services for restaurants, hotels, and garages in the Philly area. The firm is moving to the 13th floor from another location within 1315 Walnut.

Eric Muller, a broker with SSH, represented Goldman Properties/Philadelphia Buillding Associates LLC., the owner of 1315 Walnut, in finalizing the lease that has an aggregate rental of $182,000.

PernaFrederick Arranges Two Office Leases for 8,305 SF in Center City

Wednesday, May 13th, 2015

PHILADELPHIA, PA — PernaFrederick has represented two tenants in the lease of approximately 8,305 square feet of center city office space here.

In the largest of the agreements, Curalate, Inc., the world’s leading marketing and analytics suite for the visual web, has expanded to an additional 6,805 square feet at 2401 Walnut Street.

The agreement was negotiated by Daniel Gummel of PernaFrederick and will expand the offices of Curalate to a total of approximately 10,718 square feet on the 5th floor at 2401 Walnut.

Michael Dolan, a broker with Stockton Real Estate Advisors, cooperated with PernaFrederick and represented 2401 Walnut L. P., a private real estate investment partnership that owns the building.  No aggregate rental was disclosed for the additional space.

400MarketIn the second agreement, Michael Anderson and Joe Viturello of PernaFrederick arranged for Lyquix, a marketing, advertising, Web design and development agency, to occupy some 1,500 square feet at 400 Market Street.  Lyqiux will soon move to the 3rd floor of 400 Market from its current offices at 620 Chestnut Street in Philadelphia.

According to Viturello, the aggregate rental of the lease with Kaiserman Company, the owner of 400 Market Street, exceeded $210,000.

PernaFrederick Brokers One New Lease; One Renewal Totaling 19,310 SF of Center City Office Space Worth $3.3 Million

Tuesday, April 7th, 2015

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has negotiated one new lease and one long-term renewal for approximately 19,300 square feet of Center City space that have a combined aggregate rental exceeding $3.3 million.

Joe Viturello, a vice president at PernaFrederick, arranged the terms of both agreements.

1608walnutIn the largest space contract, Viturello represented 1608 Walnut Street Associates, the limited investment partnership that owns 1608 Walnut Street, in renewing a lease for approximately 11,461 square feet on the 18th floor of the building that is occupied by the University of the Arts.

Greg Soffian, a senior vice president with Savillis Studley, cooperated with PernaFrederick and represented the University of the Arts in finalizing the terms of the renewal. The University established its offices at 1608 Walnut Street in 2005 and the renewal will continue that presence to the middle of the next decade.

According to Viturello, the aggregate value of the lease extension was approximately $2.5 million.

Representing Bayada Home Health Care, Viturello negotiated a lease for 7,850 square feet on the 4th floor of 2133 Arch Street to provide for the expansion and relocation of Bayada’s offices presently at 2401 Walnut Street in Philadelphia. That move is scheduled for August of this year.

Brokers Andrew Margolis and Alex Feinberg at A. Margolis Realty represented Pen Del College Avenue, L.P., the owner of 2133 Arch Street, in finalizing the multi-year lease that has an aggregate rental exceeding $776,700.

PernaFrederick Brokers Two Agreements for 7,800 SF at 1608 Walnut Street Worth $750,000

Thursday, April 2nd, 2015

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented 1608 Walnut Associates, L.P, the limited partnership that owns 1608 Walnut Street here, in the negotiation of two long-term office leases for approximately 7,800 square feet of space having a combined aggregate rental exceeding $750,000.

Joe Viturello, a vice president of PernaFrederick, represented the landlord in extending an existing lease with the Snyman Chiropractic Group for approximately 5,150 square feet on the 6th floor of the 19-story, 232,000 square foot building.
Snyman Chiropractic Group was represented in the renewal negotiations by Karl Schwemlein, a broker with MS Fox Real Estate.

According to Viturello, Snyman Chiropractic Group established its offices at 1608 Walnut in 2006 and the renewal agreement will continue that occupancy to the later years of this decade.

In a second lease, Viturello brokered a long-term lease agreement with the Belles Group, P.C. for approximately 3,558 square feet on the 13th floor of the building. Scott Lewis, with MS Fox, cooperated with PernaFrederick and represented The Belles Group that is relocating from 404 South 16th Street in Center City.

The Belles Group, P.C. specializes in the legal representation of companies in all aspects of intellectual property procurement, enforcement and management on both the national and global stages.

PernaFrederick Brokers Two Leases for 10,415 SF Worth $2 Million

Thursday, March 26th, 2015

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has negotiated two office lease agreements for approximately 10,415 square feet of Center City space that have a combined aggregate rental exceeding $2 million.

North Am. BldgIn the largest of the agreements, Joe Viturello, a vice president at PernaFrederick, represented ADR North American, L.P., the owner of the North American Building at 121 South Broad Street, in the extension of an existing lease for some 6,610 square feet, or the entire 7th floor, occupied by Philadelphia Center. According to Viturello, the aggregate rental of the lease extension exceeds $1.4 million.

The Philadelphia Center provides experiential education programs for undergraduate students that put the liberal arts mission into practice by integrating multidisciplinary seminars, comprehensive advising, and substantial internship opportunities in an urban environment.

In the second agreement, Joe Viturello and Mike Anderson at PernaFrederick, represented Spirit Cruises, LLC, the tenant, in the lease of some 3,805 square feet at 123-29 Chestnut Street.

Spirit Cruises operates The Spirit of Philadelphia that has been a popular getaway for numerous romantic couples, families, and groups of friends. With cruises that dock at numerous points all over the United States, the sightseeing and dining cruises offer entertainment and sightseeing in luxury and style.

Hatzel & Buehler Extends Lease for 8,430 SF at Ten Penn Center

Tuesday, December 2nd, 2014

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented Hatzel & Buehler, the nation’s oldest electrical construction company, in the renewal and expansion of its lease for approximately 8,430 square feet at Ten Penn Center, 1801 Market Street here.

10 Penn CenterDan Gummel, a vice president at PernaFrederick, arranged the multi-year renewal for Hatzel & Buehler, while building ownership was represented by Newmark, Grubb, Knight Frank.

Gummel disclosed no aggregate rental for the lease renewal that will continue Hatzel & Buehler’s occupancy on the second floor of the 27-story building at the northwest corner of 18th and Market Streets.

The oldest electrical contracting company in America established by two electricians who worked with Thomas Edison, Hatzel & Buehler employs 700 IBEW electricians and is signatory to 21 local unions in Delaware, Michigan, New Jersey, New York, Ohio, Pennsylvania and West Virginia.

PernaFrederick Brokers Two Leases for Walnut Street Buildings with Aggregate Rental Exceeding $1 Million

Tuesday, November 25th, 2014

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented one tenant and one building owner in the negotiation of two lease agreements for approximately 9,280 square feet of space in office structures fronting Walnut Street here that have a combined aggregate rental exceeding $1 million.

The brokerage team of Matt Frederick, a principal, Vice Presidents Keith Kiner and Joe Viturello, and Associate Michael Anderson at PernaFrederick, brokered all of the agreements.

In the largest of the leases, Home Care Associates, Inc., extended its lease of some 8,180 square feet on the 10th floor of 1500 Walnut in a renewal contract negotiated by Viturello and Frederick who represented the tenant in finalizing the space contract with 1500 Walnut Enterprises, LLC.

Home Care Associates is a worker-owned company that provides homecare training for caregivers and respite providers.

According to Frederick, the aggregate rental of the lease extension exceeds $870,000.

At 1315 Walnut Anderson represented Luminous Chiropractic, the tenant, and Kiner represented Goldman Properties, the building owner, in the lease of approximately 1,100 square feet on the 14st floor of the 18-story building.

Luminous Chiropractic P.C. is one of sixteen practices in the entire country to utilize video fluoroscopy or motion x-ray, plain film x-ray, and thermography scan technology that enables the firm to identify the underlying cause of many health concerns and achieve its primary goal of structural correction.

Aggregate value of the Luminous Chiropractic lease is approximately $145,000.

PernaFrederick Brokers 3 Lease Agreements for 9,300 SF with Aggregate Value of More than $1 Million

Tuesday, November 18th, 2014

PHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented two tenants and one building owner in the negotiation of three lease agreements for approximately 9,300 square feet of downtown office space that have a combined aggregate rental exceeding $1 million.

Joe Viturello, Michael Anderson and Dan Gummel at PernaFrederick brokered all of the space contracts.

In the largest of the leases, BI, Inc, a subsidiary of The GEO Group (NYSE: GEO), has leased approximately 3,870 square feet on the 7th floor of 1401 Arch Street for the relocation of its offices previously at 42 South 15th Street.

Viturello represented AFIAA Arch Street, LLC, the building owner, in finalizing the lease, while Steve Stefanski, a broker with Cresa Partners, cooperated with PernaFrederick and represented BI, Inc., in finalizing the space contract that has an aggregate rental exceeding $440,000.

At One South Broad Street Viturello and Anderson represented Magnum Integrated Marketing in the lease of some 3,827 square feet on the 18th floor of the building that is owned by Broad One, L. P.

Matthew Guerrieri, a broker with Newmark Grubb Frank Smith, represented the landlord.

Magnum lntegrated Marketing is relocating to One South Broad from 1500 Walnut.

In the third agreement, Matt Frederick and Dan Gummel of PernaFrederick represented ASI, the owner of Two Penn Center, in the lease of some 1,600 square feet on the third floor of the building to the law firm of Philip N. Pasquarello.  The law firm was represented in the lease negotiations by Michael Anderson and is relocating to Two Penn Center from 1218 Chestnut Street.

According to Gummel, the aggregate value of the lease is approximately $260,000.

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

Tuesday, November 11th, 2014

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.

1608walnutJoe 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.

Jacoby Donner , PC Renews Lease for 15,434 SF at 1700 Market Street

Thursday, November 6th, 2014

1700marketPHILADELPHIA, PA — PernaFrederick Commercial Real Estate has represented the law firm of Jacoby Donner, PC in the lease of approximately 15,434 square feet of class A office space on the 31st floor of 1700 Market Street here.

The brokerage team of Steve Perna, a principal of PernaFrederick, assisted by Joe Viturello, a vice president of the firm, brokered the long-term space contract for which no aggregate rental was disclosed.

George Cauffman, III, a senior vice president at CBRE, cooperated with PernaFrederick and represented 1700 Market Street Associates, the building owner, in finalizing the multi-year space contract.

Jacoby Donner established its offices at 1700 Market Street in 2007 and the renewal agreement will continue the law firm’s presence in the 32-story, 841,000 square foot building to the beginning years of the next decade.

Jacoby Donner, P.C., is an 80 year-old firm with offices in Pennsylvania and New Jersey that U.S. News & World Report has ranked as a “Tier 1” law firm for Construction Law in Pennsylvania. The firm provides a broad range of legal services, including business and real estate law, litigation, association law, labor and employment law, business succession and wealth preservation planning.

Located at the southwest corner of 17th and Market Streets, 1700 Market includes a five-story, in building 735 space parking garage. It is also strategically positioned approximately two blocks West of City Hall and two blocks North of Rittenhouse Square.

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