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Aramark Nearly Fills Bell Atlantic Tower

PHILADELPHIA-The food supplier's expansion goes beyond Aramark Tower to 42,616 sf in the 53-story trophy at 1717 Arch St.

By Marita Thomas | Updated on July 06, 2006

PHILADELPHIA-Aramark has signed a long-term sublease with Verizon for 42,616 sf in Bell Atlantic Tower, the 53-story trophy building at 1717 Arch St. With its own building bursting at the seams, the locally based food supplier’s mid-Atlantic division will relocate from Aramark Tower at 1101 Market St. to the full 42nd and 43rd floors of 1717 Arch.

The agreement concludes the lease-up of the approximately 235,000 sf vacated by the locally based Dechert law firm, which relocated to Cira Centre, the newly completed office tower next to 30th Street Station. Roger McManimon, senior director of the local office of Cushman & Wakefield, tells GlobeSt.com the Aramark lease takes occupancy in the 1.5-million-sf Bell Atlantic building to 93%. “It’s a fluid number, however, because Verizon has the ability to re-stack some of its existing space to open up about 100,000 sf for the right tenant.”

McManimon, along with Paul Garvey of C&W represented Verizon, while Gil Pierce and Patrick Wolfington, also of C&W, represented Aramark. Via a subsidiary, Bell Atlantic, now Verizon, constructed the building in 1991. It later sold the asset to a partnership that includes the New York City-based Blackstone Group and inked a master lease for the full building. The Verizon master lease expires in August 2012.

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