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.


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.


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.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.