GlobeSt.com UPDATE: Cira Centre Preleasing Reaches 91%

Some of the newly signed leases also make good on Sweeney's stated intention of attracting new business to the city. Broadly criticized by Center City office property owners for initial large leases with Downtown law firms, he says Cira Centre tenants represent "approximately 725 new jobs to the City of Philadelphia and over 500 new jobs to the Commonwealth of Pennsylvania."

Jeff De Vuono, SVP of Brandywine's urban division, and in-house leasing agent Steven Rush represented the owner. Terms are undisclosed. According to previous GlobeSt.com reports, the rental rate is in the high $20s to low $30s per sf. Tenants also receive tax abatements through 2018.

In one of the largest of the recent agreements, Wilmington, DE-based Brandywine Asset Management leased 54,755 sf for its new headquarters and will relocate to Cira Centre in May 2006. Scott Johnson and Ed O'Brien of McConnell Johnson negotiated for the tenant.

McKinsey & Co., the global business consulting firm, inked a lease for 27,600 sf to open its first office in the metro market. George Cauffman, SVP of the local office of CB Richard Ellis, spoke for McKinsey.

Lubert-Adler Real Estate Funds, a locally based private equity investment firm, will take 58,000 sf for its new headquarters in March 2006. Sid Smith of GVA Smith Mack represented the tenant. Reger, Rizzo, Kavulich & Darnall LLP, which has offices in Delaware, Maryland, New Jersey and Pennsylvania, will relocate its King of Prussia office into 27,600 sf in Cira Centre. Tony Rossi, first VP with CBRE, represented the regional law firm in negotiations.

Another law firm, Mand Marblestone & Danziger PC, will expand and relocate from Bala Cynwyd into 9,592 sf in a lease negotiated by Tim Monahan and Patrick McGrath of Studley. Capsicum Group, a management and technology consulting firm, signed a long-term lease for 1,800 sf and is relocating from Berwyn.