PHILADELPHIA-The Redevelopment Authority of the City ofPhiladelphia (RDA) renewed its lease at 1234 Market St. and willnow occupy 70,000 square feet for the next 11 years. The deal wasbrokered by Studley.

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The RDA takes up the 16th and 17th floors of the building, whichis owned by the Southeastern Pennsylvania Transportation Authority.Two of the authority's associate agencies, the Philadelphia HousingDevelopment Corporation (PHDC) and Philadelphia Office of Housingand Community Development (OHCD), also occupy space on theefloors.

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Other tenants in the building include Citizens Bank, the ChileanAmerican Chamber of Commerce and the Philadelphia Foundation. U.S.Equities Realty manages the asset.

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The RDA and its affiliates will be relocated to the building's20th floor while a Studley- negotiated HVAC renovation takes placein efforts to make the building LEED certified. Studley's H.Hetherington Smith, senior vice president/branch manager, CatherinePullen, corporate managing director and Charles Steelman, assistantdirector, brokered the deal.

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