The lease includes 113,000 sf of space directly available from the owner of Westbrook and a 75,000-sf sublease from Malvern, PA-based Sungard SCT Inc. The owner is Multi-Employer Property Trust, the largest real estate investment owned by National Automatic Sprinkler Industry (NASI), a $3-billion union trades pension fund based in Washington, DC.

Hether Smith, SVP and branch manager, and Margo Mocarski, assistant director of Studley's Philadelphia office, represented Cephalon in the negotiations. The Philadelphia office of Trammell Crow Co. represented MEPT, and Todd Westby of the Wayne, PA office of GVA Smith Mack represented Sungard. The rental rate is undisclosed. Office space in this area, according to fourth-quarter 2003 data from TCC, averages $23.98 per sf.

Cephalon's interim move includes shifting administrative functions now housed in its West Chester headquarters buildings in Brandywine Business Park to the Westbrook location this fall and expanding its research and development space in the Brandywine location. Meanwhile, the Studley team continues to search for a new Cephalon corporate campus of up to one million sf. The search is being conducted primarily along the Route 202 corridor. Last year's sales for the rapidly growing biopharmaceutical company exceeded $685 million.