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KING OF PRUSSIA, PA-McKee Risk Group inked a sublease for 12,500 sf at Maschellmac Corporate Center from global pharmaceutical supplier ZLB Behring. The insurance company will relocate from its current quarters in the Woods in Wayne.

Terms of the sublease are undisclosed, but, on condition of anonymity, a source familiar with the transaction tells GlobeSt.com, “while the direct rate for leases in the center are in the $20-per-sf to $21-per-sf range plus electricity, this sublease is probably around $18 per sf.” John Morrissey, a partner in locally based Jackson Cross Partners, negotiated the transaction.

“The move to Maschellmac, a class A multi-building office complex, represents a significant upgrade in McKee’s headquarters and a major boost to their image,” Morrissey says. Plymouth Meeting-based Brandywine Realty Trust owns Maschellmac.

Clyde McKee, president of McKee, says his company “needed flexibility in our real estate lease.” As a result of this sublease, he says in a statement, the company “saved time, money and aggravation and have an arrangement that will provide flexibility for our future needs.”

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