PHILADELPHIA-PernaFrederick has arranged new leases for two tenants at One South Broad Street here that have a combined aggregate rental value exceeding $3.6 million.
The leases are for a total of 18,784 square feet of office space at the 25-story tower, also known as the PNB building.
The brokerage team of Matt Frederick, Joe Viturello and Keith Kiner closed the contracts with Broad One, the real estate investment partnership that owns the 464,804-square-foot building fronting South Penn Square.
In the larger of the two agreements, brokered by Frederick and Viturello, DMI Partners, a national on-line marketing and advertising agency, expanded its offices to 16,139 square feet on the 11th floor of One South Broad. The agency had been located in 8,200 square feet along South Broad Street.
Craig Scheuerle and Matt Guerreri of Newmark Grubb Knight Frank represented the landlord in that transaction, which has an aggregate rental of approximately $3.3 million.
In the second lease deal PernaFrederick’s Keith Kiner represented Kolber, Freiman & Randazzo, a legal firm specializing in disability law, in taking 2,645 square feet on the 16th floor. The firm was previously located in smaller offices at 1616 Walnut St.
Guerreri of Newmark Grubb Knight Frank represented the landlord in the lease negotiations that have an aggregate rental of more than $300,000.
Major tenants in the building include Wachovia Bank, Dorland Global Communications, Red Tettemer, Archer & Greiner and National City Bank. The Philadelphia National Bank bought the building in 1952, converted it from a department store to offices and banking space. The building’s bell tower is decorated on all four sides with PNB’s initials in stainless steel, despite the bank’s later renaming and several mergers.