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PHILADELPHIA-Maritz Inc. has subleased 36,226 sf in Mellon Bank Center from Mellon Bank, which has a master lease on the property that bears its name. Maritz, a St. Louis-based sales and marketing services firm, is relocating from 55,000 sf in the nearby Wanamaker Building.

The term is for eight years, according to Timothy Monahan, corporate managing director, and Patrick McGrath, assistant director in the local office of Studley. They negotiated on behalf of Maritz. Monahan says Maritz wanted “more efficient and profitable class A office space that could also help the company improve its employee recruiting and retention.” Whitney Hunter and David Heally of the local Jones Lang LaSalle office, represented Mellon Bank.

The aggregate value of the agreement is undisclosed. According to a second-quarter Studley report, the average asking rent rate for class A office space in the West Market submarket is $26.77 per sf, while a Cushman & Wakefield report puts the rate at $26.38 per sf, and a Grubb & Ellis report pegs it at $$28.60 per sf.

Newton, MA-based HRPT Properties Trust owns the 53-story, 1.3-million-sf tower, which was built in 1990 and is located at 1735 Market St. Locally based Sunoco relocated its headquarters from Ten Penn Center into 221,000 sf in Mellon Bank Center in summer 2005. Tom Flach of REIT Management & Research LLC, HRPT’s locally based management firm, tells GlobeSt.com the building is now 96% leased.

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