The agreement has an aggregate value in excess of $2.9 million,according to Thomas Kramer, a principal of locally based JacksonCross Partners, who negotiated the transaction on behalf of USEquities Realty LLC. In March 2004, Septa, which owns the building,handed the operation, management and leasing contract for it toChicago-based US Equities Realty. At that time, the building wasfully leased with Septa occupying approximately 400,000 sf.

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A year ago, when a 38,000-sf vacancy loomed for this January, USEquities enlisted Jackson Cross, an Oncor International affiliate,to fill the space being exited by CananWill Inc., an internationalinsurance broker. Mission accomplished. "With this lease, thebuilding occupancy is just a few percentage points less than 100%,"Kramer says. The local office of Jones Lang LaSalle represented theCensus Bureau in the transaction.

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The 20-story building was completed in 1973 and contains retailon the lower floors. It offers direct concourse access to the Septaregional rail and subway lines, and there are more than 3,000parking spaces within one block, Kramer points out.

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