By Samuel Murch CoStar Research
CBS recently renewed its office lease at 1500 Spring Garden St., a Class A office building in Philadelphia's Center City.
The broadcast network signed a long-term renewal for 74,000 square feet, which includes 62,000 square feet on the sixth floor and an additional 12,000 square feet in the lower level, which the company uses to support its vehicle fleet.
The broadcaster operates its Philadelphia television stations, including KYW-TV (CBS 3) and WPSG-TV (Philly 57), from the Center City location. The facility serves as its main broadcasting hub, with high-definition studios, control rooms and rooftop satellite dishes for producing and transmitting local television broadcasts and programming for the Delaware Valley. CBS originally moved into the building in 2007, and the renewal extends its term through 2042.
The large office building totals approximately 1.22 million square feet, and is jointly owned by New York-based commercial real estate investment firm Nightingale Properties and asset manager Wafra Inc.
CBS is the third-largest tenant in the building after privately held defense contractor Day & Zimmermann and casino tech firm Evolution Gaming.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.