Monday, November 16, 2015

RAIT Financial Trust moving back to Center City Philadelphia

Natalie Kostelni, Reporter, Philadelphia Business Journal
RAIT Financial Trust has signed a lease to move out of Cira Centre and will relocate back to the Central Business District.

The real estate investment trust signed on to 21,000 square feet at Two Logan Square in Center City Philadelphia. It will move by spring 2016, said Andres Viroslav, a spokesman for the company.
“We wanted to be back downtown,” Viroslav said about the decision to move out of Cira Centre. It also wanted to have the ability to be on a single floor. Viroslav declined to answer additional questions about the lease.

The building that RAIT is relocating to 100 N. 18th St., owned by Brandywine Realty Trust, which developed and also owns Cira Centre. The vacancy brought on by RAIT's pending move from Cira was short-lived.

“Always good to keep a great customer within the Brandywine family,” said Jerry Sweeney, CEO of Brandywine (NYSE: BDN) about RAIT's move. “We have already released their entire space plus some more for a term exceeding 10 years.”

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