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PHILADELPHIA-Seattle, OR-based Milliman USA has signed a long-term lease for 35,500 sf in the three-story, 104,000-sf office property at 1550 Liberty Ridge Road in Wayne, PA. Malvern, PA-based Liberty Property Trust completed the facility in March 2002. This lease takes the building, which is in Chesterbrook Corporate Center, to 70% occupancy.

Brokers familiar with the area tell GlobeSt.com that average asking rental rates for similar buildings in the area are about $23 per sf, often with concessions. Milliman will relocate to the new space from its current offices in Radnor, PA, in July 2003.

Jeffrey E. Mack, principal, and Ross Forman, SVP of corporate services in the Wayne, PA, office of locally based Smith Mack/Oncor International, represented Milliman. In-house broker Robert Murdocca represented Liberty in the transaction.

Milliman USA is an actuarial consultancy with offices in 35 U.S. cities and in Bermuda, Hong Kong, London, Melbourne, Seoul and Tokyo. Its 2001 revenues were in excess of $301 million.

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