Aberdeen is taking up two and a half floors in Mellon Bank Center that will house its 200-plus associates. Management expects the firm to move into the building in July.
Leasing rates for the deal were not immediately available. Grubb & Ellis' most recent report has class A office space in West Market submarket going for $31.33 per sf, Cushman & Wakefield has it at $28.56, while Studley calculates the average at $27.66 per sf.
Jones Lang LaSalle represented Aberdeen in the deal, while Grubb & Ellis represented owner Newton, MA-based HRPT Properties Trust. HRPT's 19 properties in the Philadelphia Metro area are 87.3% leased, according to a Q2 financial filing.
The 55-story 1.3-million-sf Mellon Bank Center is one of the most recognizable buildings on the Philadelphia skyline. Built in 1960, it underwent a major renovation in 1997.
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