Thursday, September 13, 2012

Ballard Spahr LLP Renews 179,307 Square Feet at BNY Mellon Center

A lease renewal of 179,307 square feet to Ballard Spahr LLP, a national law firm, was completed at BNY Mellon Center in Philadelphia for a term in excess of 15 years The property is managed by REIT Management & Research LLC, Real Estate Services.

Built in 1990, BNY Mellon Center is a skyline-defining trophy office building in Center City Philadelphia. Crowned with a distinctive pyramid, the building is one of the most recognizable in the region. Firms such as BNY Mellon, FMC Corporation and Sunoco are headquartered at the property, which has maintained occupancy rates over 90 percent since its construction.

CommonWealth REIT is a real estate investment trust, or REIT, which primarily owns office and industrial properties located throughout the United States. As of June 30, 2012, CWH owned $7.2 billion of office and industrial properties with approximately 52.8 million square feet located in 31 states, Washington, D.C. and Australia. CWH is headquartered in Newton, Mass. Reit Management & Research LLC, Real Estate Services, also headquartered in Newton, manages more than 93 million square feet of commercial office, industrial and medical office buildings across the country.  

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