Terms of the lease are undisclosed. However, brokers familiar with the King of Prussia office market tell GlobeSt.com the average asking rental rate is approximately $24.50 per sf. The overall vacancy rate in the area, including sublease space, is hovering just above 22%, but absorption is reportedly inching up during the last half of this year, fueled by pharmaceutical and biotechnology companies.
Bill Wilson and David Niles were Brandywine's in-house leasing representatives under the direction of Tony Nichols Jr., senior vice president of leasing. Jeff Barker of the local office of Cushman & Wakefield represented the tenant.
Aventis Behring, a division of France-based Aventis, is a biotech giant in its own right and a leading global manufacturer and supplier of plasma and recombinant products.
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