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Morrissey Picks Up 156,000-SF Assignment

PHILADELPHIA-Valley Forge, PA-based Morrissey Partners is named rental agent for a 124,000-sf property at the 15-acre Valley Forge Corporate Center on its home turf and a new 32,000-sf building adjacent the Eagleview Corporate Center in Lionville, PA.

By Marita Thomas | Updated on August 09, 2002

PHILADELPHIA-Radnor, PA based St. John’s Holding Co., has named Valley Forge, PA-based Morrissey Partners leasing agent for its 124,000-sf, two-story office building in the 15-acre Valley Forge Corporate Center. The building, located at 1000 Adams Ave., is 84% leased.

Neither the owner, nor the agent, would disclose the rental rates, although, in a statement, John Morrissey mentions “a very attractive rental rate.”

The average asking rental rate on class-A office space in the area is approximately $26 per sf, according to GobeSt.com research, but, with an overall vacancy rate of just over 23%, including sublease space, brokers say owners are cutting deals.

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