Following the Aetna shift and new tenant, he says 910 Harvest Dr. will be 75% occupied, and neighboring 920 will be 50% occupied. Meanwhile, Federal Deposit Insurance Co. renewed and extended to 4,697 in Brandywine's 66,000-sf building at 980 Harvest Dr., taking occupancy to 100%.
A new tenant, Nutrisystem Inc. leased 23,983 sf in a two-building complex on Welsh Road in Horsham as SRS Marketing renewed and extended to 3,252 sf. This property aggregates 57,000 sf and is now "better-than 95% leased," Schenkel says.
Howsan and Howsan law firm took 6,382 sf, while GZA GeoEnvironmental Inc. has taken 4,249 sf in the 46,000-sf building at 501 Center Dr. in Fort Washington. These companies are both relocating from other Brandywine properties, and Schenkel says, "Our portfolio gives us the ability to accommodate clients' growth." Kellogg's leased 13,069 in the building, which was renovated a year ago. With these transactions occupancy is 98% in the 46,000-sf, four-story building. Asking rates here and throughout the northern portfolio are "approximately $21.50 per sf, plus electric," Schenkel says.
Mikros System Corp. leased 5,967 sf at 220 Commerce Dr. in Fort Washington. It is also 46,000 sf and occupancy is 70%. Two renewals at Two Greenwood Square in Bensalem aggregated 19,526 sf and took occupancy in the 79,000-sf building to 85%. The tenants are Stelex-the Validation Group Inc. and Delve LLC.
Thoroughbred Direct Intermodal Services renewed and expanded to 11,157 sf in one of the four buildings at Meeting House Business Center here. The center aggregates 140,000 sf and is 96% leased, according to Schenkel.
Asked if the third-quarter activity was a reflection of an upturn, Schenkel says the firm is "pleased with what we're getting, but I'm not making any predictions." In addition to Meyer, Brandywine's Keith Oldt negotiated for the owner in many of these transactions.
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