Gene McHale of Conshohocken-based Beacon Commercial Real Estate tells GlobeSt.com the building was just 52% occupied in January 2004. The new leases represent an aggregate of 20,022 sf and have a total value of $1.7 million. McHale represented the building owner, locally based City Line Investors/McGuire Partners. He says the rental rate is in the range of $26 per sf, plus electric.
The largest of the leases is by Pittsburgh-based Telcove, a fiber-optic communications supplier, for 7,831 sf. Aegis Realty Partners, also based in Pittsburgh, represented Telcove.
Exceed Corp., which is contracted by the US government to process a backlog of green card applications, added 5,900 sf to its existing 31,241 sf in the building, and New York City-based MISI, an information technology firm, added 1,317 sf to its 3,700-sf space.
Austin, TX-based Ezold, a supplier of floral delivery systems, signed a lease for 2,457 sf and will relocate from 401 City Line Ave. here. The area office of Cushman & Wakefield represented the tenant. The two renewals are Penn Business Credit, which occupies 1,707 sf, and AJR Associates, an employee benefits specialist, which renewed for 810 sf.
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