PHILADELPHIA-Management of Center City Philadelphia’s Bell Atlantic Tower at 1717 Arch Street has been awarded to the asset services department of the Pennsylvania office of New York-based Cushman & Wakefield. Locally-based Bell Atlantic Properties, now named Verizon, developed the 1-million-sf, 53-story, class-A office property in 1990.

Neither the occupancy rates nor asking rental rates were disclosed. The current asking rental rate for class-A office space in Center City is $22.60 per sf, according to local brokers. That represents a better than 10% decrease since the end of 2001, they tell

The original developer’s subsidiaries, Verizon-Pennsylvania and Verizon Network Services, are anchor tenants in the building. Additional tenants include Kemper Insurance, Pepper Hamilton LLP, CDI Corp., and Cushman & Wakefield.

C&W’s Philadelphia office manages in excess of 15.5 million sf in the city, including space at Centre Square, One Liberty Plaza, and the Philadelphia Naval Business Center.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.