Stephen Perna, SVP of locally based Arden Real Estate Services, represented the owner, Arden Seven Penn Partners, a Pennsylvania real estate partnership. Joe McManus, SVP of leasing for Thomas Realty Partners, also based here, represented the tenant.
The 21-story, 286,000-sf building located at 1635 Market St. was completed in 1966 as part of the Penn Center complex. In 1989, it was fully sprinklered and modernized at an estimated cost of $68 million. Among the other office tenants in the building are Morgan Lewis & Bockius, Spector Gadon & Rosen, Cable & Wireless, Browne & Co., the disciplinary counsel of the Supreme Court of Pennsylvania, and several law firms. Retail tenants include Pennsylvania Business Bank, Saladworks, Bassetts Turkey, the Keystone Turf Club and Center City's only off-track betting parlor.
According to Perna, Bio-Kinetics first leased its headquarters at Seven Penn in 1996. Last year the company was acquired by Sweden-based Alfa Laval and renamed Alfa Laval Biokinetics. It supplies biochemical human impact products and services for the defense, automotive and sports industries.
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