PHILADELPHIA-The Redevelopment Authority of the City of Philadelphia (RDA) renewed its lease at 1234 Market St. and will now occupy 70,000 square feet for the next 11 years. The deal was brokered by Studley.
The RDA takes up the 16th and 17th floors of the building, which is owned by the Southeastern Pennsylvania Transportation Authority. Two of the authority's associate agencies, the Philadelphia Housing Development Corporation (PHDC) and Philadelphia Office of Housing and Community Development (OHCD), also occupy space on thee floors.
Other tenants in the building include Citizens Bank, the Chilean American Chamber of Commerce and the Philadelphia Foundation. U.S. Equities Realty manages the asset.
The RDA and its affiliates will be relocated to the building's 20th floor while a Studley- negotiated HVAC renovation takes place in efforts to make the building LEED certified. Studley's H. Hetherington Smith, senior vice president/branch manager, Catherine Pullen, corporate managing director and Charles Steelman, assistant director, brokered the deal.
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