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RADNOR, PA-Lease-up at Radnor Financial Center, the former Wyeth Pharmaceuticals complex, advanced with an agreement by the Lyons/Odell affiliate of Lyon’s Insurance Co. for 5,550 sf. The aggregate value of the lease is in excess of $1.1 million.

Taylor Young, VP of Conshohocken-based Beacon Commercial Real Estate, and Ken Musi of Musi Commercial Properties, represented the tenant. David Niles of Rubenstein Brokerage Group represented the owner, which is Plymouth Meeting-based Brandywine Realty Trust.

This August, Brandywine acquired the five-building, 967,000-sf complex as part of a 14-property office portfolio from Philadelphia-based Rubenstein Co. Rubenstein had renovated the buildings. At the time the complex moved into the Brandywine portfolio, vacancies in the buildings ranged from a high of 28.2% to zero.

The nearby Radnor Corporate Center five-building, 733,000-sf complex, also a part of the Rubenstein acquisition, is better than 90% leased. Together the two class A office complexes give Brandywine virtual control over the Radnor marketplace where the average asking rental rate ranges between $28 per sf and $30 per sf, according to Gerard Sweeney, Brandywine’s president and CEO.

Lyon’s, a rapidly expanding firm, is licensed to operate in 46 states. The Lyons/Odell affiliate provides alternative risk financing, risk management consulting, and insurance for a base of general clients, including the temporary staff and real estate industries.

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