Friday, September 5, 2014

Select Top Five Philadelphia Office Leases Signed in Q2 2014

The select top office lease signed during the second quarter of 2014 in the Philadelphia market was at 2005 Market St. in the Market Street West submarket. Pond Lehocky Stern Giordano LLP leased 51,821 square feet there. Brandywine Realty Trust represented the landlord.

A 50,152-square-foot lease was signed at 1500 Spring Garden St. in the Market Street West submarket.

Spark Therapeutics signed a 28,075-square-foot lease at 3737 Market St. in the West Philadelphia submarket.

Medecision leased 25,169 square feet at 550 E. Swedesford Rd. in the King of Prussia / Wayne submarket.

In the first quarter, PRA International leased 106,835 square feet at 731 Arbor Way in the Plymouth Mtg / Blue Bell submarket.

This trend is compared to the U.S. National Office select largest new lease signings occurring in Q2 2014, which include the 713,727-square-foot deal signed by in the San Francisco market; AbbVie's 558,859-square-foot office lease in Chicago; Sandoz, Inc. taking 154,101 square feet in the Northern New Jersey market; Boeing's lease of 144,073 square feet in the Seattle/Puget Sound market; and Time Warner, Inc.'s first-quarter deal totaling 943,438 square feet in New York City.

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