PHILADELPHIA-Guardian Life Insurance Co.’s financial services group renews its lease for approximately 16,159 sf on the 32nd floor of 1700 Market St. The aggregate rental of the multi-year agreement is in excess of $1.8 million.

Stephen Perna, SVP of locally based Arden Real Estate Services, represented Guardian. Perna says Arden also negotiated the tenant’s original 1998 lease in the building. The current owner, Chicago-based Transwestern Properties, handed the exclusive leasing assignment to a team from the local office of Grubb & Ellis. Wayne Fisher, SVP and director, and Craig Scheuerle, SVP, head the G&E team. The Guardian renewal maintains occupancy in the building at approximately 92%.

In late November 2004, Transwestern acquired a majority stake in the 32-story, 825,547-sf office building along with the 36-story building at 1601 Market St. from Chicago-based Equity Office Properties. The 1700 Market St. building was completed in 1969 and fully renovated in the 1990s. Among the other tenants are Deloitte & Touche, AIG, BDO Seidman, Centric Inc. and Independence Blue Cross.

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