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Brandywine Leases up 133,000 SF in the Suburbs

PLYMOUTH MEETING, PA-The recently completed 23 separate transactions that

By Marita Thomas | Updated on July 08, 2003

PLYMOUTH MEETING, PA-Locally based Brandywine Realty Trust recently completed 23 lease transactions for an aggregate of approximately 133,000 sf in properties throughout its suburban Philadelphia portfolio. A majority are for small spaces, but three total about 61,500 sf.

The largest is a renewal for 33,000 sf by Siemens Medical Solutions Health Services Corp. at 300 Lindenwood Drive at Valleybrooke Corperate Center in Malvern. Jack McGowan of Cresa Partners represented Siemens, and in-house brokers Richard M. McGuckin and Chris Bieberbach represented the owner. Terms are undisclosed, but the average asking rental rate in this submarket is $23.50 per sf, according to GlobeSt.com research.

Viking Electronic Services inked a 14,910-sf lease at 620 Allendale Road in King of Prussia where brokers tell GlobeSt.com the average asking rate is between $24.10 pr sf and $25.75 per sf, although discounting is taking place. Jim Eaton of Geis Realty Group represented the tenant, and Brandywine’s David Niles spoke for the owner.

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