Brad Spiegel, president of Conshohocken-based Skyline Commercial Real Estate, represented the ad agency in the negotiations. Whitney Hunter and Josh Sloan of the Philadelphia office of Jones Lang LaSalle represented the building owner. The aggregate value of the lease, described only as long-term, is approximately $4.5 million.
The 28-story, 465,000-sf tower was built by John Wanamaker in 1932 and completely renovated in 2000 by then-owner JP Morgan. In May 2003, Morgan sold the building to David Werner, a New York City private real estate investor, for $42 million. For decades the building was home to Philadelphia National Bank, and its initials still stand at the top of the class A facility, which is often referred to the as the PNB Building.
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