TelAmerica Media Inc., which is currently headquartered at 1435 Walnut St., is leasing a full, 23,528-sf floor in Comcast Center. Center City Film and Video, now located at 1503 Walnut, is leasing 11,498 sf. "There was no outside broker representation on either deal, on either side," Jeanne Leonard, VP of investor relations at Liberty, tells GlobeSt.com. Terms of the leases and rental rates are undisclosed.
The rental rate for Comcast's lease, negotiated by David Binswanger of locally based Binswanger, has never been disclosed. Binswanger has neither confirmed nor denied widespread reports, obtained by GlobeSt.com and others, that the rate is in excess of $40 per sf, which puts it at nearly double the effective rental rate in Center City office buildings. John Gattuso, SVP and director of national development for Liberty, was unavailable for comment by deadline.
In an unrelated transaction, Liberty announces that it will joint venture with locally based Synterra Partners in developing a three-story, 46,000-sf build-to-suit office headquarters for Unique Industries at the intersection of Diagonal and League Island Blvds. in the Navy Yard Corporate Center. The JV is currently developing a spec office building at One Crescent Drive in the center. Locally based Unique lays claim to being one of the world's largest manufacturer of party supplies.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.