PHILADELPHIA-Beneficial Bank is expected to be moving its headquarters to four floors at the 42-story tower building at 1818 Market St.
The firm would be relocating from its current space at the former Penn Mutual complex, according to the Inquirer. The newspaper reports that the bank was expected to announce today its new headquarters plans at the building owned by Sovereign Capital Management Group, which will be renamed Beneficial Place.
"We analyzed space in 28 buildings," say bank CEO Gerard P. Cuddy. "This is a good time to be a shopper looking for 100,000 square feet in Philadelphia. David Binswanger, our broker, is extraordinary. This wasn't a transaction for him; it was like a mission." Beneficial also plans to have a ground-floor bank branch at the building as well. See story in the Inquirer.
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