The centerpiece of the larger Radnor Financial Center is 555Lancaster Ave., a 242,000-sf building initially constructed asSears headquarters in the 1970s and later fully occupied by WyethPharmaceuticals, which exited prior to Brandywine's purchase. Thebuilding is undergoing a renovation that David S. Ryder, SVP ofBrandywine's western region, tells, "includes $15million in base-building renovation and up to $10 million more inspecific tenant finishes." Building renovations include a two-storyatrium lobby, new ceiling heights, replacement of glass curtainwalls, new HVAC, landscaping, lighting and other upgrades. "We arerepositioning the building into a mixed-use retail and multi-tenantoffice flagship for both Radnor complexes."

With the signing of a 57,000-sf lease by Aon Corp., "thebuilding is 45% preleased," Ryder says, "and it allows us to pushup rents to between $30 per sf and $32 per sf." Suzanna Foo, anupscale Philadelphia restaurant, is leasing about 7,500 sf on theground level, joining a 42,000-sf Philadelphia Sports Club facilitythat just inked a lease valued at $13 million. Ryder says he isseeking another restaurant "of similar size and caliber."

At the end of September, the center's 251,000-sf office buildingat 201 King of Prussia Rd. was 35% leased, according to Ryder, atrates of between $26.50 per sf and $28.50 per sf, which he says isthe asking rate for all but 555 Lancaster Ave. in this complex andfor space in the neighboring Radnor Corporate Center. This centeralso includes buildings at 130, 150 and 170 Radnor-Chester Rd. The71,350-sf 130 building is 32% leased, and the 69,800-sf property at170 is vacant. They flank 150, a structure of six connectedbuildings aggregating 335,450 sf, and it was 50% leased at the endof third quarter.

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