SCA is relocating its North American headquarters from Eddystone. Larry Maister and John Shelly of the local office of Trammell Crow Co. represented SCA in the expansion as well as the initial lease, taking SCA's headquarters in the building to 101,606 sf. By GlobeSt.com's calculations, this expansion takes Cira Centre preleasing to approximately 70%. In early October, PNC Bank's BlackRock Financial Management subsidiary inked a lease there for 8,500 sf. Attalus Capital has leased 20,000 sf and will relocate its headquarters there from Plymouth Meeting.
Unlike SCA, BlackRock and Attalus, the earliest to commit to the tower were two locally based law firms, Dechert LP, which has leased 245,000 sf, and Woodcock Washburn LP, with a lease for 109,000 sf. Terms and rates of these inaugural leases are undisclosed. When Gerard Sweeney, Brandywine's president and CEO, first announced plans for Cira Centre, he estimated the rates would be between $30 per sf and $38 per sf. However, according to local brokers, who spoke on condition of anonymity, the rental rate is in the high $20s-per-sf level.
Of the total space, 694,596 sf is office and 33,129 sf is devoted to retail and conference facilities. Cira Centre is a designated Keystone Opportunity Zone, which gives tenants city and state tax abatements until 2018.
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