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Brandywine Reports Pick-Up in Suburban Leasing

PHILADELPHIA-Among a dozen leases executed by the firm for suburban Pennsylvania properties over the past three months, three alone account for 92,352 sf. Activity encompasses renewals, expansions and new tenants. The towns of Horsham and Berwyn see the most activity.

By Marita Thomas | Updated on July 23, 2002

PHILADELPHIA-Plymouth Meeting, PA-based Brandywine Realty Trust reports signing a dozen leases for properties in its suburban Pennsylvania portfolio during the past few months. While the majority are for relatively small space, three of the tenants account for a total of 92,352 sf.

The biggest deal is the renewal of 57,118 sf at South Point I and II in Berwyn, PA by Torrance, CA-based DaVita, Inc., a provider of dialysis services. Vince Curren, president of locally based Palestra Properties, represented DaVita, and in-house broker David Niles represented Brandywine.

Niles also negotiated an expanded lease for locally based Main Line Health, Inc. totaling 17,457 sf at the same property. Terms of the South Point leases were not disclosed. Area brokers estimate that combined office/service space along this tech corridor of Chester County averages about $7.25 per sf.

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