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BALA CYNWYD, PA-In four separate transactions within the past month, One Belmont Ave., the 230,000-sf, class A office building owned by King of Prussia-based Maguire & Partners, reached 85% occupancy. The former GSB building, this property was completed in 1960 and totally renovated this year.

Conshohocken-based Beacon Commercial Real Estate represented Maguire in all four transactions, which aggregate 26,508 sf. The value of just one of the smaller leases is disclosed. According to second-quarter data from the Philadelphia office of Cushman & Wakefield, the total office vacancy in Bala Cynwyd is 19.1%, significantly lower than the 24.8% overall office vacancy in the Philadelphia suburbs, and the average asking rental rate here is $30.96 per sf, the highest among all of the suburbs and more than $3 per sf above the suburban average.

The largest of the leases is by Exceed Corp. for 19,691 sf in the 12-story building. The professional management firm is relocating from Curtis Center in Center City Philadelphia. Dallas-based Transwestern Commercial Services represented Exceed. Gene McHale, a Beacon principal, spoke for Maguire.

Sovereign Bank extends its current lease for 5,389 sf for another seven years. Representatives in the Reading office of Trammell Crow Co. represented Sovereign in negotiations with McHale.

Avis Rent A Car leases 781 sf for five years under an agreement with an aggregate value in excess of $104,000. Corporate Consultants leases 710 sf for five years.

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