Steven Cousart, George Cauffman and Michael McShane, first VPsin the local office of CB Richard Ellis, negotiated for theuniversity. Jeff R. Seligsohn, a principal with locally basedSeligsohn Soens Hess, represented the building owner, JFKInvestment Associates LP 1, a private real estate investmentpartnership.

The value of the lease is undisclosed. Second-quarter 2004 datafrom the local office of Cushman & Wakefield says the averageasking rental rate for office space West of Broad St. is $27.83 persf, while a first-quarter 2004 report from Trammell Crow Co.'sPhiladelphia office puts the average asking rate in the MarketStreet West submarket at $24.41 per sf. Area brokers, however, tellGlobeSt.com that discounting is prevalent and TIs are generous.

The building was completed in 1984. The architect was locallybased Ballinger & Associates. Other tenants are CBRE, EsquireDeposition Services, the NAACP, RLI Insurance, Thomas Cook, andTravelex.