PHILADELPHIA-With the signing of two new lease agreements, occupancy in International Plaza, the two-building, 488,500-sf office complex in East Tinicum Township, adjacent to Philadelphia International Airport, rises to 80%. The new tenants are locally based Gemino Healthcare Finance Inc. and Appleton, WI-based Air Wisconsin Airlines Corp.

The leases aggregate 10,537 sf and are valued at in excess of $1.1 million. Gemino will occupy 4,373 sf in One International Plaza, and Air Wisconsin has taken 6,164 sf in the adjacent building Two. Amerimar Enterprises, which is headquartered here, acquired the property for about $60 million in November 2005 in joint venture with New York City-based Angelo Gordon & Co.

Thomas Kramer and Eric Gorman of locally based Jackson Cross Partners LLC handle leasing at International Plaza for Amerimar and represented the owner in both negotiations. The duo also represented Air Wisconsin in this transaction, and Jim Mullarkey of Wayne-based GVA Smith Mack represented Gemino.

Kramer tells GlobeSt.com the asking rent rate is $23.50 per sf, plus electric and says the property can accommodate suites of from 1,200 sf to 75,000 sf. The two six-story structures on 27 acres were completed between 1959 and 1974 and renovated in 1996 through 1998. Since acquiring the asset, Amerimar has invested approximately $1.5 million in additional upgrades, which include a renovated common lobby and new exterior lighting and signage.

Gemino supplies senior loans to healthcare service providers throughout the US. Air Wisconsin is the largest privately held regional airline in the country. It flies regional jets as US Airways Express and also is the ground handler for United Airlines and Northwest Airlines in numerous cities.

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